New York (HedgeCo.net) – Miles Howland & Co. LLC is developing a new fund of hedge funds that focuses on the socially responsible investment (SRI) area, the Miles Howland Socially Responsible Investment Fund. The new FoHF will allocate capital to underlying hedge funds following a faith based investment criteria.
2010 Highlights for Miles Howland Funds:
· The Deep Value Managers Fund, Ltd. (for U.S. tax exempt investors and non-U.S. investors) gained an estimated 3.05% net of fees in December. For the period of January 1, 2010 to December 31, 2010 the Fund has gained 13.32% net of fees.
· The Deep Value Managers Fund, L.P. (for U.S. taxable investors) gained an estimated 2.19% net of fees in December. For the period of January 1, 2010 to December 31, 2010 the Fund has gained 12.94% net of fees.
· The Multi-Strategy Fund B.V. (for U.S. tax exempt investors and non-U.S. investors) gained an estimated 2.17% net of fees in December. For the period of January 1, 2010 to December 31, 2010 the Fund has gained 4.36% net of fees.
The new FoHF will be allocated across multiple hedge fund managers and strategies. The portfolio has been fully developed and emphasizes established institutional quality managers. Miles Howland will work with the underlying hedge fund managers to screen out investments in securities related to specified “prohibited investments” including abortion, alcohol, gambling, pornography, tobacco and weapons.
As with the other Miles Howland FoHF’s, UBP Asset Management LLC will be working with Miles Howland as the Sub-Advisor on the Fund.
Alex Akesson
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