US - RMB MultiManagers has launched a US small cap equity fund employing a manager-of-managers approach with each chosen manager awarded a separate mandate.
The RMBI MultiManager US small cap equity fund has been structured with the objective of outperforming against the Russell 2000 small cap index through a choice of “disciplined and talented stock pickers”, RMB said in a statement.
Commenting on the launch, chief investment officer Tom Joy said: “The US small cap market is the fourth largest equity market in the world, after US large cap, Japan and the UK.
“It represents a distinct asset class, with an investable universe of more than 2000 companies and is therefore an exciting and diversified addition to our range of portfolios.”
The fund is denominated in US dollar and managers will be able to “exploit the inefficiencies created by the size of the universe and lack of analyst coverage” to generate alpha, RMB added.
Meanwhile, the UK-based firm has added two new share classes to its five fund of hedge funds. The new share classes will be denominated in Euro and Sterling.
Jeremy Beswick, head of business development in London, commented: “The move is a response to interest expressed by both investors and potential marketing partners. In particular, there are very few funds of hedge funds denominated in either Sterling or Euros, relative to the number denominated in US dollars, and this development therefore represents an exciting opportunity for our institutional investors and their advisors.”
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