WEST PALM BEACH, FL (HEDGECO.NET) – The Old Mutual investment managing company has announced plans to launch two new hedge fund strategies according to a press release. The two funds will employlong-short strategies in trading equities the statement said. The first of the funds, the Old Mutual US Specialist Equity fund will be devoted to trading North American firms, and US with US$2billion in market capitalization, according to the press release.
The second hedge fund, called the Old Mutual Asia Pacific Equity fund will concentrate trading activities on companies in Japan, Australia, India, and the Asia Pacific region with US$500 million of market capitalization. Both products will be made available to UK investors as well as those in other parts of the world. The new hedge funds will also be marketed to investors through the Old Mutual Multi Strategies according to the press release.
The new portfolios will be denominated in euro, US dollar, and the pound sterling. It is anticipated that trading volatility will be in the range of about 10%. The funds will be domiciled in the Cayman Islands, but the listing will be in Dublin. The fund operators hope to return to investors about 15% in annual return.
Andrew Lightbown, the director of sales and marketing at OMAM said in a statement, �We believe that the strategy of each of these new funds combined with the proven track records and investment expertise of the managers will provide investors with considerable scope for strong returns with low volatility.� The minimum investment requirement is established at 100, 000 in each of the currencies in which the fund is offered.
Paul Oranika
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HedgeCo.Net
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