Aug 11 2006 | 12:00am ET
Tuono Corp.’s T-Circle Partners Fund, a hybrid managed account product offered to institutional investors, postponed the planned April 1 launch of the firm’s onshore vehicle, with executives now anticipating an early September launch (FINalternatives 2/17). However, on July 31, the Naples, Fla.-based firm went ahead with the launch of a similar offshore product that is open to non- U.S. investors.
Michael Billy, ceo, said the firm deferred the fund launch because of the three-year track record required by many institutional investors, which the firm passed in June.
Additionally, the firm had to overcome hurdles involved in transitioning from a retail managed account into an institutional hedge fund. Billy could not comment on the onshore fund because it is in the Security and Exchange Commission’s quiet period. The offshore offering, Tuono Circle Ltd., is based on an absolute return strategy that “creates or rebalances market participation in 16 different ways under one multistrategy process.”
Dec 5 2013 | 9:51am ET
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