West Palm Beach (HedgeCo.Net)- Florida based hedge fund manager INTL Consilium LLC and First City Monument Bank Plc have jointly launched the Legacy Africa Alpha Fund, a $100 million hedge fund investing in Africa and the Middle East.

"The new Legacy Africa Alpha Fund is a natural extension to our global products as we have been investing aggressively in the region for three years now." Jonathan Binder, co-portfolio manager, said.

Structured as an absolute return fund, the strategy focuses on capital appreciation and income via investments in debt and equity securities in sovereign or corporate entities  located in Africa and the Middle East. The goal of the strategy is to produce consistent absolute returns while maintaining attractive risk-adjusted return profiles, irrespective of the conditions of the global markets.

The Legacy Africa Alpha Fund will place a 30% cap on its Middle Eastern weighting to ensure significant exposure to Africa’s fastest growing economies,

"INTL already has over $450 million invested in the region in both debt and equity securities in over 16 different countries as they were quick to identify value and growth opportunities at a time when many investors shied away." co-portfolio manager Charles Cassel added, "The Legacy Africa Alpha Fund is an exciting venture for our team, as it will allow us to leverage our existing knowledge and contacts within the region."

In addition to the Legacy Africa Alpha Fund, CSL is simultaneously launching two additional funds under the flagship “Legacy” brand. The Legacy 50 Fund, an index tracker of Nigeria’s top 50 companies by market capitalization and the Legacy Banking 10, driven semi active fund investing in Nigerian Banking shares will each be launched with N3 billion under management. This will bring total assets under management to N24 billion ($ 205 million), making it arguably the largest asset manager in Nigeria.

Alex Akesson
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Email: alex@hedgeco.net

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HedgeWeek – TriAlpha, the asset management arm of the Stonehage Group, an international wealth management group, has launched the TriAlpha Global Property Strategy Fund, a fund of property hedge funds.

The fund seeks absolute returns by focusing on hedge fund managers that specialise in the global property sector. The portfolio will include property hedge funds from prominent management firms such as Credit Suisse, Thames River Capital and New Star Asset Management.

‘With increasing uncertainty and volatility in the property sector, a fund of hedge funds approach to this asset class looks extremely favourable,’ says TriAlpha director Cobus Kruger. ‘The easy money has been made – given this volatility it’s now time for the skills of hedge fund managers to be employed.’

TriAlpha has a 10-year track record in managing funds of hedge funds, and through Stonehage Property Partners the group has extensive experience in property investment.

‘Using a fund of funds approach allows us to exploit opportunities across global property markets with an absolute return focus through the full property cycle,’ says Sean Curry, head of TriAlpha’s fund of hedge funds team.

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HedgeCo.Net – Cranwood Capital Management LLC has announced the launch of their new fund, the Cranwood Fixed Income Arbitrage Fund. The fund seeks to generate high, absolute returns by using Treasury futures to arbitrage temporary discrepancies occurring along the U.S. Treasury Yield Curve.

After building their reputation as a propriety trading firm and posting average monthly returns of 2.93% since July 2005, growing interest from outside investors prompted the team to restructure themselves as a hedge fund. So far, the fund has received interest from both high net worth individuals and institutional investors.

The management team, headed by CEO Peter Powers, has been working together for five years, covering the full 22 1/2 hour trading day. They are able to assemble and liquidate substantial positions in all of the spreads up and down the yield curve as the market presents opportunities over the course of the trading day.

“We make our money daily, in small increments, by taking advantage of minor price adjustments caused by technical supply and demand factors, thus capitalizing on our execution edge,” explains Powers.

Cranwood uses no leverage, seeking more consistent and stable returns. Risking no more than 2-3% of capital each day, their objective is to never take a loss they can’t recover from in two to three days.

The Cranwood Fixed Income Arbitrage Fund has a sister fund, The Cranwood International Fund, a British Virgin Island-domiciled hedge fund, that mirrors the domestic fund.

For more information, please contact John Page at 561-789-7472 or by emailing Jpage@Cranwoodcapital.com.

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