Ermitage Launches Directional Fund

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.

In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…