3A Launches Funds Of Hedge Funds

Jan 24 2008 | 12:37pm ET

3A SA, the hedge fund management division of Swiss banking group SYZ & CO, has launched two new funds of funds within the Alternative Capital Enhancement SICAV, 3A’s Luxembourg-based US$1.3 billion fund of hedge funds SICAV. The new sub funds are called ACE Asia Fund and ACE Opportunity Fund.

The ACE Asia Fund was established last June and received authorization for distribution in Switzerland at the end of last year. There are currently 23 underlying managers in the US$25 million fund. According to the firm, the alternative investment industry has grown strongly in Asia, where approximately 1,200 hedge funds manage approximately US$150 billion in assets.

“Investing in this region via hedge funds is all the more interesting as, promising though they may be in the long term, these markets remain particularly volatile,” said the firm. “For investors wishing to gain exposure to this region, the downward protection offered by alternative strategies with their absolute-performance objectives represents an undeniable advantage.”

The ACE Opportunity Fund, which was launched last month with US$20 million, is invested in 17 hedge funds representing various distinct strategies: macro, credit, long/short equity, long volatility and opportunistic managers.

Both new strategies are available in three currencies (U.S. dollars, euros and Swiss francs) as well as in three distinct share classes (A, B and C).

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