Reuters UK- The 129 million-pound Absolute Return Trust, a fund of hedge funds run by Fauchier Partners, is considering issuing new shares to raise assets, the latest hedge fund vehicle to tap the market.
The investment trust’s move, announced in a note to the Stock Exchange on Thursday, follows Brevan Howard’s BH Macro fund (BHMG.L: Quote, Profile, Research) raising $131 million (64 million pounds) on Wednesday.
Earlier this month Thames River Multi Hedge fund (TRMU.L: Quote, Profile, Research) said it plans to raise up to 100 million pounds in new assets because of investor demand.
“There’s been a lot of interest in the market because it’s been performing well for the whole of this year, including in the difficult period,” Anthony Brooke, Director at British-based Fauchier Partners, told Reuters on Friday.
He declined to say how much the trust plans to raise.
The Absolute Return Trust (ABR_p.L: Quote, Profile, Research), which invests in a range of hedge strategies including macro, equity long-short, credit, event-driven and short-bias funds, has seen its net asset value rise 14.58 percent from the start of the year to Oct 19. Shorting means betting on a lower price for a security in the future.
