U.K.-based Stenham Asset Management has launched the Stenham Global Resources Fund, a long-biased fund of hedge funds focusing on non-energy related sectors.
The fund, which has been operating internally since July 2006, is a concentrated portfolio of 10 to 15 underlying managers. In the six months ending February 2008, the fund returned 14.8%, according to the firm.
Kevin Arenson, CIO, said continued global demand for resources particularly from China and India, and the threat of global warming makes the Global Resources Fund a “compelling investment opportunity.”
“Water has been cited as the single biggest impediment to China's long-term success,” said Arenson. “Whilst China is the most obvious example of a pressing water need, India and other mostly Asian markets are not far behind and are expected to make similar massive investments.”
The fund’s minimum investment is US$25,000 with monthly liquidity and no lock up period. It is also offered in the pound Sterling and Euro share class.
Stenham currently manages some US$6.5 billion, of which US$2.5 billion is managed through its multi-manager hedge fund portfolios while US$4 billion represents the market value of the properties in which Stenham is invested.