EUROPE - Liberty Ermitage and Finaltis have today announced the launch of the Japan Absolute Fund, a Luxembourg SICAV, seeded with capital from both Groups and to be listed on the Luxembourg Stock Exchange.
Finaltis is a Paris-based hedge fund consultancy group 25%-owned by Robeco and together with Liberty Ermitage has identified a requirement for a Japanese long / short equity fund of funds.
The case for long/short investment in Japanese equities is increasingly compelling, said Jonathan Giles, group executive, Liberty Ermitage. With the stock market at a 17 year low there is political pressure for reform, deregulation is accelerating and mergers and acquisition activity is increasing. Whilst all of these positives are present in the marketplace not all companies are evolving to simultaneously offer excellent long and short opportunities.
The Japan Absolute Fund will have a net long bias and will invest primarily in equity hedge funds to target both absolute returns as the market rallies whilst simultaneously protecting the downside. Offering monthly liquidity, the fund will charge an annual management fee of 1.5% together with a 10% performance fee with a high-water mark.
By Luke Clancy
Here are key takeaways from our 2019 Asset Allocation Outlook on how we are positioning asset allocation portfolios in light of our outlook for the global economy and markets.
This week's top stories included a Freedom of Information request revealing more than 100,000 savers could face six-figure tax bills as a result of GMP equalisation.
The Pearson Pension Plan has entered into a £500m pensioner buy-in with Legal & General (L&G) in the insurer's first deal of 2019.