BNP Paribas Asset Management Company Launches Three
New Hedge Funds
New Hedge Fund Products by BNP Paribas
BNP Paribas Asset Management Company, the investment subsidiary of BNP
Paribas has added three new hedge funds to its hedge fund investment umbrella.
According to company spokesman, the asset manager has unveiled a new market
neutral fund, domiciled in Dublin Ireland. The second in the series of
the new Hedge Fund products is a global macro fund, based in France, and
the third fund a Trend fund is also domiciled in France. In a company
statement released in Paris, BNP Paribas officials said the three new
hedge funds would be managed from France.
BNP is pursuing an aggressive strategy of new fund launches, and plans
to introduce new hedge fund products during the first quarter of 2004
according to the released statement. Among the new expected Hedge Fund
launchings in the first quarter of 2004 would be a long-short equity hedge
funds. Details about the proposed launchings have not been provided as
yet. A specialized team of asset managers with over six years experience
in managing such asset classes would run the new portfolios.
The new launched funds are projected to return between 10-15% to the
fund’s investors, volatility is expected to be within 5-10%. The
new hedge funds are targeting both the individual and institutional investors
in Europe with particular emphasis on French investor population. The
new hedge fund products would be a complimentary addition to BNP Paribas’
vast umbrella of hedge fund products.
About BNP Paribas Group
BNP Paribas is made up of three core businesses: Corporate and Investment
Banking, Retail Banking, Private Banking, Asset Management, and also BNP
Paribas Capital which spearheads the Private Equity business. After Paribas
and Société Générale announced on February
1st, 1999 their plans to merge, BNP launched two takeover bids for Société
Générale and Paribas on March 9, offering 11 BNP shares
for 8 Paribas shares, and 15 BNP shares for 7 Société Générale
shares according to information from company sources.
The French financial markets watchdog authority, the Conseil des Marchés
Financiers, decided that the merger could proceed. The Combined General
Shareholders' Meeting convened on May 23, 2000 confirmed the creation
of the new BNP Paribas Group. The new group has a net income of 1,348
million euros and 77,000 employees working in 83 countries around the
world, BNP Paribas Asset Management Company, the Asset branch of BNP Paribas
manages about US$15 billion in investor assets.
Paul Oranika
Editor-in-Chief
Hedgeco.net
Author of new book: Hedge Funds: Investment Vehicles for the global economy,
what investors must know about them.
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