GLOBAL - The American Masters Market Neutral Fund (AMMNF) - the latest fund in Tremont's American Masters fund series - has accumulated US$60m under management since its launch.
Alternative investment firm Tremont Advisers started to trade the offshore fund in the series - which is managed by Tremont (Bermuda) - on July 2.
AMMNF is a fund of hedge funds that aims to deliver market neutral results through a combination of asset allocation and individual manager selection, and complements a US-based sister fund, American Masters Market Neutral Fund LP launched in 1998.
The fund aims to produce average returns, in US dollars, over a three year period of 11-13% per annum, net of all fees, with very low volatility. The fund started trading on 2 July and currently invested in 10 underlying hedge funds across 4 key styles.
Cayman Islands-domiciled and listed on the Irish Stock Exchange, AMMNF has both a US dollar and Euro share class. Minimum investment is US$100,000 or EUR100,000.
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