FINalternatives- Bedrock Alternative Asset Management this month launched its first fund of hedge funds, with plans for another in the near future. The Geneva-based firm’s Dimension Fund debuted with US$36 million in assets, and Bedrock expects a further US$20 million in commitments for its offering next month.
The firm characterizes the Dimension Fund as a “multi-asset class product” rather than a multi-strategy fund of funds, because multi-asset class managers can allocate and re-allocate capital tactically and strategically much faster than the process of rebalancing hedge fund positions in a fund of funds portfolio, according to the firm.
The fund will invest in 15 to 25 managers with a maximum allocation of 15% of its portfolio allocated to any one manager.
