Frank Russell has launched a new multi-manager hedge fund, aimed at institutional and individual investors based outside the United States.
Russell's new hedge fund product, the Alternative Strategies Fund, will initially have 14 managers, although this is expected to rise if funds under management increase. The Alternative Strategies Fund aims to deliver returns in the region of 10% to 15% per annum. Russell claims that the new hedge fund will be subject to significantly lower levels of volatility than traditional equity markets.
Derek Doupe, Russell's associate director, alternative investments, said: This fund offers investors access to some of the best hedge fund managers in the world and an efficient route into the often opaque world of hedge funds.
The Alternative Strategies Fund is the first offering from Frank Russell Alternative Investment Funds, an open-ended investment company based in Ireland.
Russell began researching hedge funds in the United States in 1986 and started its first alternative investment multi-manager programme in 1987. Currently it has over EUR3bn in a number of alternative investment funds.
By Geoffrey Ho