Bedrock Rolls Out Multi-Strat Fund of Funds

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.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...