Harcourt Launches ABL FoHFs

Jul 15 2008 | 1:38am ET

Harcourt Investment Consulting has launched its Belmont Asset Based Lending fund of funds.

The fund, which debuted in May, was developed with IST Investmentstiftung für Personalvorsorge to address the needs of the conservative institutional crowd by excluding derivatives and shorts and limiting the use of leverage to 10%. Its annualized targeted return is 250 basis points in excess of Libor, net of fees, with 2.5% annualized volatility.

Harcourt said the launch of the new fund is a further step in the evolution of its ABL product offering “and the first step in a promising cooperation with IST Investmentstiftung für Personalvorsorge, the largest independent investment foundation in Switzerland.”

The fund finished its first month of trading up 0.50%.

It charges a 1% management fee and a 10% performance with a $5 million minimum investment requirement.

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