GLOBAL: Optima Fund Management has unveiled a new offering for institutional investors targeting absolute returns strategies.
New York-based Optima has been managing multi-strategy portfolios for institutions for over three years and has decided to take advantage of investor demand in the current climate. The firm said that the fund could serve as a powerful source of returns and diversification especially in volatile markets.
The Optima Absolute Return Fund has already attracted investor seed capital of US$10m and has started trading with 13 managers and 7 different strategies including global macro, fixed income relative value, hedged equity and convertible arbitrage.
D. Dixon Boardman, the managing director of Optima, said: “Over the years, we have created a first class investment research capability in house with experienced and talented people to meet the needs of our high net worth and, increasingly, institutional client base.
“With our deep understanding of the underlying strategies and with access to outstanding managers, we expect this fund to be very successful.”
The fund is aimed at US tax exempt institutions and offshore investors. The minimum investment level is US$500,000 or equivalent.
The Pensions Regulator (TPR) has granted 11 master trusts extensions to apply for authorisation, as it confirms it has received 22 applications ahead of the 31 March deadline.
Aegon Master Trust, Fidelity Master Trust and Ensign have sent off their authorisation applications to The Pensions Regulator (TPR).
Self-administered pension funds spent £15bn on payments to pensioners in Q4 2018, but received just £12bn in contributions (net of refunds), Office for National Statistics (ONS) data reveals.
Aberdeen Standard Investments (ASI) and Gresham House are to team up to form a joint venture.