Monday, 4 May 2015
Last updated 8 min ago
Jul 7 2008 | 10:01am ET
Ermitage Group has launched a new fund of funds with an initial investment of US$45 million. The Ermitage Directional Fund will invest in a diversified portfolio of macro, trend-following and discretionary managers.
Directional’s underlying managers offer diversification in terms of markets traded, strategies and time horizon, and aims to deliver alpha from long and short positions. Currently, the fund is geared towards shorter-term statistical managers, as high-trend volatility ideally lends itself to this strategy. Trend-following managers within the portfolio at launch are focused towards benefiting from trends in the commodity markets.
The fund has a minimum initial investment of €125,000, a management fee of 1.5% and a 10% performance fee with a high watermark.
Ermitage last month launched a green fund of funds to invest in the alternative energy space.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…