WEST PALM BEACH, FL (HEDGECO.NET) – Longship Capital Management has announced the launching of its new hedge fund product, a Multi-Strategy Debt Fund. According to the press release, the fund isaimed at investors seeking to allocate capital to fixed income strategies, employing limited leverage. The main objective of the new fund is to generate low levels of volatility, seeking to achieve atargeted return regardless of the prevailing interest rate levels.
The new hedge fund aims at returns in excess of 12% per annum, utilizing a standard deviation of less than 4.0%. According to the statement, �the Fund is a globally diversified vehicle currently deploying capital to several sectors including US Mortgage and Asset-Backed, High Yield, Distressed Debt, Emerging Markets Arbitrage and Local Currency Debt.�
The new fund was developed after simulated trading utilizing underlying fund mangers in a 20-month period. The results were quite impressive; the simulated trades placed the fund in 20th percentile of about 300 funds of funds, and on top of 4th percentile on a risk adjusted basis according to the statement.
A team of senior fixed income professionals would manage the new strategy, drawn from Lehman Brothers as well as from Columbia Asset Management Company. The Chief Investment Officer of the new portfolio, William Wadden has 20-year experience in fixed-income portfolio management according to the released statements, and has managed debt obligation instruments with about US$4 billion in total assets. Wadden was also a former senior portfolio manager at Stein Roe & Farnham.
Steven Carlson, Todd Jorn, and Jim Roger, are also co-investment managers in the new fund.Roger was a former Managing Director at Lehman Brothers, he has accumulated years of experience in Emerging Markets Debt, Fixed Income Research and Asia Fixed Income Markets.
Commenting on the new fund launch, Wadden said, �We are excited about launching the Longship Multi-Strategy Debt Fund after nearly two years of analysis, manager screening and due diligence. The Longship team strongly believes that the Fund provides investors with uncommon access to the broad diversity of strategies that comprise this asset class while simultaneously managing the complex array of risks that face fixed income investors.�
Longship Capital Management is a wholly owned subsidiary of The Provident Group.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email:[email protected]
HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY!
