Thursday April 24, 02:01 PM
FRM plans London listing of hedge fund feeder
LONDON (Thomson IM) - Financial Risk Management (FRM) said on Thursday that it was planning to list a closed-ended fund of hedge funds on the London Stock Exchange (LSE: LSE.L - news) in June.
The firm said the listed entity, FRM Diversified Alpha Ltd, will invest in a portfolio of hedge funds constructed and managed in a similar way to its $10 billion diversified strategy.
FRM said that Diversified is an 'all-weather' strategy which has historically produced significant returns over cash, with low volatility and low correlation to equities and bonds over a market cycle.
Paul Dunning, chief executive of FRM, said: 'We are seeing quality capacity from a number of managers who believe that this difficult market environment will result in very strong investment opportunities.'
FRM Diversified Alpha's investment objective is to produce significant returns over cash, with low volatility and low correlation to equities and bonds over a full economic cycle.
It (Frankfurt: A0MLX5 - news) will invest across all major strategies including Equity Long-Short, Specialist Credit, Relative Value and Directional Trading as well as allocations to emerging managers and emerging strategies.
Founded in 1991 by Blaine Tomlinson, FRM manages approximately $14.5 billion for institutional and other sophisticated investors and has over 200 employees in offices in London, New York, Tokyo, Sydney and Guernsey.
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