NETHERLANDS - Permal Investment Management's latest multi-manager fund has received regulatory approval by the Dutch authorities.
Investors will now have access to the Luxembourg-domiciled Global Multi-Manager Long/Short Fund which will focus on the United States, Europe and Japan.
The fund will be allocated among fifteen of Permal’s long and short equity managers, with the aim of generating above average risk adjusted returns, with low volatility and capital preservation, in various market conditions.
Omar Kodmani, senior executive officer of Permal Investment Management Services, said: “Multi-manager funds are becoming increasingly popular as investors combat market volatility by spreading risk, while preserving strong returns.
“This fund has relatively low entry levels compared to individual hedge funds and will allow Dutch investors access to a pure play long/short fund of funds.”
The minimum investment level is E25,000 in the first instance and E10,000 thereafter.
Permal Multi-Manager Funds is an open-ended investment company (SICAV) which is also seeking registration in certain undisclosed European and Far Eastern markets, excluding France and the UK.
The SICAV has an umbrella structure, currently made up of one sub-fund, the Global Multi-Manager Long/Short Fund. Further sub-funds will be added over time.
In the last twelve months, five of Permal’s core funds - Haussmann Holdings, Permal Investment Holdings, Permal European Holdings, Permal Japan Holdings and Permal Emerging Markets - were each rated ‘AA’ by Standard & Poor’s.
Permal, which is owned by Worms & Cie, has approximately US$7bn under management and has operated in the multi-manager hedge fund markets since 1973.
PP has compiled a list of what to watch out for over the coming months.
The Pensions Regulator (TPR) spent just under £60,000 on a rebrand, including the design of a new logo and implementation of a refreshed colour scheme, Professional Pensions can reveal.
In this week's Pensions Buzz, we want to know whether or not you believe default decumulation pathways are a good way to tackle members' confusion at retirement.
The increase in minimum auto-enrolment (AE) contributions has had little impact on opt-out rates - with cessations after April increasing by less than two percentage points, data from The Pensions Regulator (TPR) shows.