WEST PALM BEACH, FL (HEDGECO.NET) – Abbey Capital, an alternative investment management company, has launched its first hedge fund according to a newly released statement. The new fund will be afutures management fund and is to be managed by REFCO Alternative Investment.
The new portfolio was seeded with about US$40 million of institutional and private investors funds from Europe, Asia US and Latin America. Trading in the new CTA vehicle will utilize about 11 Commodity Trading Advisors. According to the statement, all the managers would be collectively involved in the day to day trading decisions implemented by the fund.
The new fund aims to provide its investors with absolute returns, non-correlated with the markets, through the utilization of both trend following as well as non-trend following strategies. Such effort would enable managers to achieve a high degree of diversification across the wide spectrum of markets and strategies.
Commenting on the new Abbey CTA portfolio, David Henritze, a spokesman for REFCO Alternative Investments said, “Abbey Capital has constructed a robust portfolio that seeks to deliver returns of 12 per cent – 15 per cent with a volatility target below 10 per cent,” Henritze added, “Their portfolio construction and risk management expertise is unsurpassed, and we are confident that this fund will provide investors with a welcome opportunity to diversify their portfolios with a managed futures product with daily liquidity.”
Abbey Capital is domiciled in Dublin, according to the released papers.
Paul Oranika
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HedgeCo.Net
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