WEST PALM BEACH, FL (HEDGECO.NET) – Man Group PLC has unveiled a new registered fund aimed at US Tax-Advantaged Investors, according to a recent press release. The new product, Man-Glenwood LexingtonTEI, LLC, is sponsored by Glenwood Capital Investments, L.L.C., and an asset management and wholly owned subsidiary of Man Group PLC. The fund is a unique fund of hedge funds, registered with the USSecurities and Exchange Commission.
Man Group according to the release will serve as the fund�s primary distributor, offering an advantage of well-structured distribution network around the world. The release further explained, �The fund will provide qualified US investors access to the portfolio of already established multi-strategy fund-of-hedge funds which has a ten year track record. The fund is the latest in a series of registered products the firm is launching in the US.�
Commenting on the new product, Stanley Fink, Chief Executive of Man Group PLC said: �We expect that Man-Glenwood Lexington TEI, LLC will satisfy the high demand for fund-of hedge funds among tax-deferred and tax-exempt investors. Launched last year, Man-Glenwood Lexington, LLC has attracted significant interest from these types of US investors. Thus, we felt Man-Glenwood Lexington TEI, LLC will offer qualified tax-deferred and tax-exempt investors a product designed to address their specific tax requirements.� Fink said.
The minimum investment requirement is established at $25,000, fee structure was not immediately available. Man Investments, the asset management division of Man Group PLC, is an independent and global alternative investments manager, with offices in Chicago, Switzerland, London, Hong Kong, Dubai, Montevideo, New York, and Tokyo, managing an estimated $38.0 billion of investor assets.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
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