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.