Dublin, Ireland-based Abbey Capital has launched a global macro fund of funds with $40 million in assets. Domiciled in Malta, the Abbey Capital Macro Fund will invest in a group of global macro managers diversified across market sectors, time frames and trading styles.

The Abbey Capital Macro fund will invest in eight managers trading financial and commodity markets. The fund will allocate to managers using both managed accounts and fund vehicles. “We believe that the recent dislocation in the credit markets, which has increased volatility in the financial and commodity sectors, should provide a positive environment for a Global Macro approach,” said Tony Gannon, founder and CEO.

The new offering charges 75 basis points for management and 10% for performance, with a minimum investment requirement of $125,000.

Abbey Capital was founded in May 2000 and manages over $1 billion in managed futures, global macro and foreign exchange investments.