WEST PALM BEACH, FL (HEDGECO.NET) – Howard Deverett, a veteran trader for 27 years, according to the released statement, unveiled a new fund of funds product. The Elexis Capital Fund LP is a fund offunds vehicle, investing in about 6-10 funds; the aim of the new fund is for capital appreciation through risk reduction and diversification.
The fund manager, Howard Deverett specializes in S&P products, Futures, Forex and other Index trading instruments. The Elexis Capital Fund LP would concentrate its trading activities in such instruments, with the ultimate goal of �generating steady returns� for the fund�s investors.
About US$1 million in seed Capital for the new diversified fund of funds vehicle has been provided by Deverett. According to him, the capital came from family and friend�s assets. Deverett also disclosed that the new portfolio is also seeking qualified and aggressive fund managers with superior knowledge of S&P, Futures, Forex and other Index trading strategies.
The new fund is domiciled in the state of Delaware. The fund is currently seeking qualified investors, and the minimum investment is established at US$100,000. The fee structure for the fund is 1.5% and 20% for management and performance fees respectively. The Elexis Capital Fund targets an annual return of 20-25% to investors in the fund of funds.
Howard Deverett began analyzing and trading stocks in the 70�s, buying and selling Large and Small Cap stocks. By compounding his profits, Howard eventually switched to Hedge funds after he built a significant cash base. He is also the portfolio manager for the Applied Phi Nest Fund. According to performance data provided by Howard, he earned 28% for 2000 and 21% for 2001. Additionally, he earned 31% for 2002 and 22% for 2003.
For additional info, email Howard: howard @elexiscapitalfund.com
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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!
