Sunday, 29 November 2015
Last updated 1 day ago
Oct 15 2013 | 12:47pm ET
Neuberger Berman Group is planning a new UCITS-compliant fund of hedge funds.
The Absolute Return Multi-Strategy Fund is set to debut next month with seven underlying managers initially, Investment Week reports. The fund's money will be invested in segregated accounts, which should allow it to avoid having its money locked up by redemption restrictions.
Among the strategies included at launch will be event-driven, long/short equity and relative-value credit, aiming for a return of 5% over cash.
Increased interest from discretionary fund managers prompted the new fund, according to Tom Douie, head of European intermediary at Neuberger Berman.
"DFMs are interested again, but as a fund group it is increasingly difficult to come to the market with a '2 and 20' charging structure," he told IW.
Instead, the new fund will charge a flat 0.75% management fee, with an expected total expense ratio under 2%.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…