AmericaVest Launches Mortgage Fund

Oct 18 2006 | 12:10pm ET

AmericaVest Capital Management has launched a mortgage-backed hedge fund that charges no performance fee until it has returned 10%.

The Fort Lauderdale, Fla.-based firm’s AmericaVest Partners “10/10” Fund will invest in underperforming and distressed mortgage loans, as well as newly-originated hard money loans. The fund seeks to limit volatility by then liquidating the loans.

“Our goal is to provide qualified clients the opportunity to participate in fixed priority returns that are backed by real and tangible assets,” said Brian Plunkett, the firm’s senior portfolio manager.
 
The fund charges a 2% management fee, and investors share in 10% of its returns above 10% quarter-on-quarter. The minimum investment is $250,000.


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