WEST PALM BEACH, FL (HEDGECO.NET) – BNP Paribas Group and Duemme Hedge have formed a joint partnership, leading to the launching of a new fund of funds product called the BNP Paribas Selezone Hedge,according to a new press release. The new fund of funds product is a multi-strategy fund of hedge funds, to be marketed by BNP Paribas commercial network in Italy.
The press release stated, �BNP Paribas Selezione Hedge is a fund of hedge funds which achieves the objective of reducing volatility by diversification. This signifies the constant search for an optimal mix of strategies and, within the framework of each strategy, of a select group of mutually non-correlated fund managers. The resources are allocated on the basis of a quantitative analysis and a continual due diligence process, according to the main international standards and with BNP Paribas Fauchier Partners as advisors.�
Marco Barbaro, General Manager of BNP Paribas Asset Management said, �This partnership was prompted by the strong growth of the funds of hedge funds market in Italy, combined with the goal of joining the market leaders.� Ignazio Basile, Managing Director of Duemme Hedge in his comment said, �The aim is to combine Duemme Hedge�s know-how and managerial abilities with the BNP Paribas Group�s advisory and distribution abilities.�
BNP Paribas Fauchier Partners is the company created by BNP Paribas Asset Management (subsidiary wholly owned by the BNP Paribas group) and Fauchier Partners, who specialized in the hedge funds sector. With assets of over 19 billion dollars under management for institutional and private investors, BNP Paribas Fauchier Partners has been active since 2001 in the selection and creation of hedge fund portfolios.
Duemme Hedge SGR is the Banca Esperia Group�s company specialized in the establishment and management of funds of hedge funds, a leader in Italy with over 1.3 billion euro under management and two funds heading the rankings (Performance in first place and Low Volatility in third). All the Duemme Hedge funds, albeit with different risk/return profiles, have the common objective of the preservation and constant growth of the assets invested, according to company statements.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: [email protected]
HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!
Be sure to check out our sister sites. www.hedgefundlounge.com, www.hedgefundtools.com, and www.hedgefundemployment.com.
