Thames River Offers New Shares For Warrior Funds

Jan 23 2008 | 2:00am ET

U.K.-based Thames River Capital this month launched new share classes for its Warrior and Warrior II hedge funds, which made double-digit gains last year.

Investors can now invest in the Warrior funds via F, G and H share classes for Warrior, and an additional I share class for Warrior II. The existing A, B, C and D share classes or both funds are now closed. The US$740 million Warrior Fund, a multi-manager offering finished last year up 26.98%. Its $707.9 million sister fund also scored doubled-digit returns, gaining 20.28% last year.

Both funds charge a 1.5% management fee, with II charging a 10% performance fee, and Warrior a 5% fee. The minimum investment requirements for both funds is US$10,000.

Separately, the firm’s newly launched €15.3 million (US$22.2 million) Longstone Fund, a long/short real estate offering, finished its first month up 0.34%. According to the firm’s latest investor letter, the last month of 2007 saw real-estate equity markets fall again with EPRA Europe down 1.66% (in pounds Sterling) and down 4.3% (in euros). “The build up of positions for the fund during the month was hampered by our strong disciplines of profit taking on the short side as the individual positions reached our target levels,” said the firm. “This led to a consequential reduction of our hedges in the long book in order to maintain our net short/market neutral overall position.”

Thames River and its affiliates currently manage some US$10 billion in assets.


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