Carmel Global Macro Fund Launches With $60M In Seed Capital

Jul 15 2013 | 4:50am ET

Paris-based Bernheim, Dreyfus & Co. has launched a new a global macro UCITS IV compliant fund with $60 million in seed capital.

The new vehicle, Carmel Global Opportunities, invests in multiple asset classes across the OECD universe. The fund aims to deliver steady long-term capital appreciation through diversification of investment style, alpha source and time horizon.

According to the firm, the fund deploys capital in an actively managed core fixed income allocation and a more dynamic pocket increasing the fund’s market exposure during risk-on environments. The tactical trading strategy will consist in capturing all available opportunities depending on market conditions, combining strong portfolio construction and risk management skills.

“The launch of Carmel Global Opportunities allows us to respond to demands that we are seeing from clients to this effect and utilize various strategies to effectively harness opportunities that may occur through the market cycle,” said Amit Shabi, cofounder of Bernheim, Dreyfus & Co. “Carmel Global Opportunities is about capturing all available opportunities, utilizing excellent portfolio construction and risk management skills, with the ultimate aim of building on strengths demonstrated by our existing successful event-driven offering.”

Carmel Global Opportunities’ assets under management at launch stand at approximately $60 million. RBC and KPMG are the fund’s custodian and auditor. The fund offers weekly liquidity terms and is structured as a Fonds Commun de Placement under French law.


In Depth

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Is Steven Cohen Going to Buy the Brooklyn Nets?

Jan 19 2015 | 6:49am ET

Rumors that Steve Cohen was interested in the Brooklyn Nets emerged after Scott...

Guest Contributor

Investors Benefit From Evolution Of Fund Of Hedge Funds Model

Jan 22 2015 | 12:27pm ET

The evolution of the fund of hedge funds model over the last few years represents...

 

Editor's Note