WEST PALM BEACH, FL (HEDGECO.NET) – The investment asset manager, Focus Group is making final preparations to unveil a new hedge fund in a few weeks time. The firm announced that its new hedge fund,the Focus Arbitrage Enhanced fund would be officially launched on March 1, 2004, the new fund would be seeded with about US$25 million according to the released statements such funding would comefrom new investment sources, as well as from existing investors.
The new arbitrage fund would employ a maximum leverage in the ratio of 2.5 to 1, utilizing arbitrage strategies for trading decisions. It is anticipated that volatility would be around 8% range according to statements from Eugenio Verzili, the managing director for the Focus fund. Focus launched its flagship product; Focus Arbitrage fund, a fund of funds portfolio in 1998, that vehicle has since been closed to new investors in 2003.
Currently the Focus Arbitrage strategy invests in an assortment of managers utilizing various investment styles including fixed-income arbitrage, equity market neutral, convertible arbitrage, event-driven and a host of others.
Assets in the Focus Arbitrage fund have reached US$ 100 million according to company statements. The new product to be unveiled in March is a leveraged version of the Focus Arbitrage fund. No details about minimum investment were immediately provided.
The Focus Arbitrage strategy aims at about 10% annual return to investors in the fund, while the new leveraged product would target annual returns between 12-15% ranges.
Focus Investment Group is an independent employee owned Asset Management Company, specializing in Funds of Hedge Funds. The firm is a global organization with offices in the U.S., Canada, Bermuda, Europe, Middle East and Hong Kong and currently manages US$ 1 Billion.
Paul Oranika
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HedgeCo.Net
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