WEST PALM BEACH, FL (HEDGECO.NET) – New Star Asset Management has announced the launching of its latest fund of hedge fund product, according to a news release. This is in keeping with the growingtrend of new hedge fund investment products being introduced to the market as more investors continue to seek alternative investment strategies delivering non-correlated returns with the equitymarkets.
The New Star hedge fund will begin trading in June according to the released information. The new product will help investors diversify risk by investing in seven different hedge fund strategies, those strategies were not however immediately provided.
The new fund is open to wealthy individuals and institutions, Charles Tritton, the head of alternative investment division at the New Star Asset management said. The new launched hedge fund is not going to be duplicated through the launching of similar products for the immediate future. The fee structure and minimum investment requirements were not immediately provided.
The establishment of this hedge fund product was necessitated by the growing client demand and interest in such investment portfolios. Mr. Tritton speaking to Reuters News said, �We have had specific investor requests for this type of product. There is a significant amount of demand around,� he explained.
The New Star Asset Management firm is a United Kingdom based firm, however the New Star hedge fund of funds will be domiciled in Bermuda according to published reports. New Star was founded in June 2000, its hedge fund management unit oversees about US $500 million of investor assets, while its parent body; New Star Asset Management oversees a total of US $15 billion in investor assets.
Paul Oranika
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