WEST PALM BEACH, FL (HEDGECO.NET) – Credit Agricloe Asset Management [CAAM] is currently considering a new hedge fund of funds, with the aim of capturing broad market shifts, across the world.Jean-Claude Kaltenbach, the chairman of Credit Agricole�s alternative investments management arm, made such disclosure along with Frederic Neefs, CAAM�s head of investments. According to Neefs, CAAMmay be launching a new fund of funds strategy, utilizing the Global macro investment techniques. Neefs said, �What is missing from our range is a macro global fund; it is an area of development weare considering� according to him.
Neefs further said, “We had very little interest until last year but now we are seeing very rapid growth,” he explained. Such strategy may be aimed at the next phase of investments by European pension institutions into alternative investment strategies. Recently a number of European pension schemes have increased their investments into hedge fund vehicles. Historically, European pension funds have stayed away from hedge fund strategies, but such trend seem to be changing, because hedge funds have delivered investment results not correlated to equity markets. Many more investors are getting educated about hedge funds and their methods of trading.
CAAM is a part of the French bank Credit Agricole, over the years the hedge fund management portfolio of CAAM has experienced significant growth, and such assets have grown to about US$6 billion. The asset manager began managing hedge funds in 1992. It first entered the hedge fund management arena in 1992.
Since the overhaul of the French laws governing hedge funds, CAAM has embarked on an aggressive hedge fund management campaign. According to published reports, the asset manager also launched a host of hedge funds approximately six months ago. No further details about the new fund of funds proposals have been immediately provided.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: [email protected]
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