Swiss-based fund of funds shop Salus Alpha Management is launching two new funds of hedge funds at the end of the month to take advantage of opportunities in the event-driven and the commodities spaces.

The Salus Alpha Event Driven fund invests in the Event Driven Index listed on the Vienna Stock Exchange, which combines up to 20 event-driven managers worldwide often employ an activist investment approach. The fund has expected returns of 10% to 12 % annually.

The Salus Alpha Managed Futures invests in the Managed Futures Index listed on the Vienna bourse, which combines up to 20 managed futures firms including long/short commodity strategies and systematic traders. The managers in the portfolio invest in equity indices, bonds, currencies and commodities.

The funds, like their predecessor Salus Alpha Equity Hedged, are UCITS III compliant and can be subscribed at any bank. Both are set to debut on Feb. 29.