Friday, 29 April 2016
Last updated 1 hour ago
Sep 30 2008 | 11:38am ET
Corazon Capital has opened its Alternative Investment Fund to outside investors for the first time. The fund has been running as a managed account since 2002 and has posted a 9% annualized return with a volatility of just over 4%, according to the firm.
The strategy was turned into an institutional mandate for a pension fund in 2007 and is now managing some US$82million. The Cayman Islands-domiciled fund invests in a range of strategies, including long/short equities, event-driven, global macro and fixed-income arbitrage. The rest of the portfolio will be allocated to managed futures, emerging markets, convertible arbitrage and multi-strategy opportunities.
“This may be considered an unusual time to open a fund for investment, but we believe that this is a excellent time for investors to switch into the fund as it has shown true ‘all-weather’ characteristics: preserving capital through these tough times, unlike most funds of hedge funds, yet giving real upside opportunities for when the clouds clear,” said Scott Kelly, director.
AIF features pound Sterling, U.S. dollar and euro share classes, with a minimum investment of £60,000, US$100,000 or €70,000.
Corazon Capital currently manages US$1.2 billion in total assets and recently completed a management buyout and re-branding following a five-year affiliation with Dawnay Day.