Monday, 29 December 2014
Last updated 14 min ago
Sep 21 2007 | 11:38am ET
U.K.-based Wessex Asset Management, a US$454 million natural resources-focused hedge fund, is adding more bling to its portfolio with its latest offering, the Wessex Gold Fund.
The equity long/short fund, which will focus on directional and relative value plays on global gold and precious metals-related equities, is slated to launch next month with between US$50 million to US$150 million, with capacity for a further US$400 million.
According to a presentation obtained by FINalternatives, the firm believes that “Gold and gold equities are due a major move up,” and trading opportunities will derive from the volatility in the physical commodity and equities. Also, gold is a relatively non-crowded trade with few hedge funds having expertise in the sector and the existing gold funds being long-only products. Wessex plans to use leverage to provide an “additional edge versus long-only alternatives.”
The Gold fund charges fees of 1.5% for management and 20% for performance for Share Class A investors; while Class B shareholders pay 1% for management and 15% for performance. Both share classes sport a 12-month lockup period and have a US$500,000 minimum investment requirement.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.