Friday, 25 July 2014
Last updated 32 sec ago
Jul 2 2008 | 2:00am ET
Bedrock Alternative Asset Management in May launched its Global Diversified Fund, a fund of funds covering private equity, hedge funds, real estate and commodities, combined with traditional stock and bond investments.
The fund will invest in a 15 to 25 underlying hedge fund managers, with exposure to event-driven, long/short equity, managed futures, global macro distressed, volatility and emerging markets strategies.
Some 70% of its portfolio is weighted toward hedge funds, followed by equities (19%) and cash (8.4%). The firm is limiting its p.e. and real estate exposure to no more than 15% and commodities at 10%.
The US$65 million fund finished its first month of trading up an estimated 0.68%. Its hedge funds sub-portfolio was the strongest contributor to its performance in May, providing almost two-thirds of its gains, according to the firm.
“Within this sub-portfolio, multi-strategy and event-driven managers were the strongest performers as liquidity returned to markets and credit spreads tightened. Special situation equities were also very profitable in May. Global macro and managed futures funds were also strong performers as they benefited from the continuing surge in oil prices.”
The Global Diversified fund charges a management fees of 1% for Class A shares and a performance fee of 10%. Its minimum investment requirement is $3 million.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…