February 1st, 2007
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Harcourt Investment Consulting AG has launched Belmont Latin America Ltd, a fund of hedge funds fully dedicated to a Latin American investment focus. The fund was launched in October 2006 and allows investors to benefit from exposure to Latin American hedge funds across diverse strategies.
Latin American hedge funds offer unique emerging market exposure with relatively moderate correlation to other markets, interesting return potential and high calibre hedge fund managers. Harcourt Investment Consulting AG has been actively investing in emerging markets since its inception 10 years ago. The launch of the new fund is a logical step given that the firm has uncovered many high quality hedge funds and interesting strategies in Latin America to create a focused portfolio of funds.
The portfolio consists of hedge funds domiciled in Latin American countries as well as hedge funds domiciled outside Latin America but investing predominantly in the Latin American markets. The aim of Belmont Latin America Ltd is to achieve a targeted annualized return of Libor + 700 bps net of fees, with annualized volatility in the range of 6 to 8 per cent pa.
The product is currently investing in 10 underlying hedge funds, with the portfolio expected to grow to 15-20 funds in the near future. The strategies pursued by the underlying funds include long/short equity, emerging markets debt, event driven, fixed income arbitrage, macro, as well as asset based lending.
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