New York (HedgeCo.Net)- Finvest Asset Management has announced the launch of The Finvest Yankee fund, its first multi-strategy hedge fund that will offer exposure to emerging managers through managed accounts.
According to Levy Berkowitz, compliance and operations manager at Finvest, the Yankee fund has allocated $10 million to each of ten different emerging hedge fund managers, who will manage their allocations in separately managed accounts.
With an investment minimum of $1 million and a capital of $250 million. the hedge fund plans to allocate capital to a further eight to 10 managers next month. The fund has a 1/10 fee structure and quarterly redemptions with 30 days notice and an ultimate capacity of $2 billion.
Although the portfolio allocates capital to a number of managers, Berkowitz does not consider The Finvest Yankee fund to be a fund of hedge funds (FoHF). “Whereas in a FoHF, the money is allocated to the actual hedge fund, in Finevest’s offering, Finvest manages the risk of these managed accounts and maintains ownership of these assets,” he explains.
Using a proprietary risk reduction model, the fund invests in managers that implement the following strategies: convertible arbitrage; dedicated short-bias; emerging markets; equity market-neutral; merger arbitrage; distressed and high yield; credit arbitrage/capital structure; fixed-income arbitrage, long/short equity; macro; managed futures/CTA; multi-strategy; and event-driven.
Finvest Capital Management is a private investment firm that manages, identifies, analyzes, invests in, and monitors alternative investment strategies. Finvest also manages over $400 million in various single-strategy hedge funds.
Alex Akesson
Editor
HedgeCo.Net
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