WEST PALM BEACH, FL (HEDGECO.NET) – Rhicon Currency Management Company has announced the launch of its new fund. The new strategy, called the Rhicon Strategic fund, will be available for trading July1 according to the press release. The fund will aim to achieve about 12-17% annually, while operating with an expected volatility in the range of 7-10%, according to the released statements.
Rhicon Strategic fund will be trading major world currencies, according to the press release. They will be concentrating however, on the G-8 currencies, and other chosen derivative instruments and financial futures, and will be offered in both the US dollars as well as in Euro. The release stated �This new strategy complements Rhicon’s current product by applying a broader trading mandate whilst sharing the same investment philosophy based on a strict and disciplined risk management approach.�
Rhicon management launched the Rhicon Global Forex fund, in December 2001. The asset manager has since focused in development of management as well as infrastructure; the company now has a team of 8 employees overseeing the company�s asset management obligations.
Rhicon Strategic fund will be domiciled in the Cayman Islands, but would however be managed by the United Kingdom based Rhicon Currency Management (UK) Ltd, regulated by the United Kingdom�s FSA. No details about fee structure or minimum investment requirements were immediately provided.
The press release added; �The fund provides significant opportunities for growth, and reflects Rhicon�s commitment to building a first class alternative asset management firm�. Rhicon Asset Management oversees over US$500 million in investor�s assets.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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