WEST PALM BEACH, FL (HEDGECO.NET) – ABN AMRO Asset Management is planning to launch more hedge funds according to a new press release. Details about the new strategies have not been released, but areport by Dow Jones stated that the firm plans to launch new hedge funds during 2004 and 2005.
The firm currently manages six hedge funds, and recently introduced its Relative Value Strategy Fund to the market. The Relative Value Strategy Fund is an open-ended fund of hedge funds which invests in a range of relative value strategy hedge funds. The fund is targeting investors interested in fixed income investments, concerned with the rising interest rate levels.
The firm�s hedge fund management assets recently reached the $1 billion mark. ABN AMRO has $100 million in two single strategy hedge funds; the ABN AMRO Currency Fund and the ABN AMRO Emerging Markets Debt Hedge Fund, and $600 million in absolute return currency products according to the company�s statements.
Commenting on the growth of ABN AMRO�s hedge fund management business, Gary Vaughan-Smith, Head of Alternative Investments at the firm, said, �Passing through the $1bn level is a key milestone for us and we are continuing to see significant demand for fund of hedge funds products from both institutional and high net worth clients.�
Assets managed by the firm�s hedge funds stood at $40 million three years ago, but increasing demand of hedge fund products by wealthy individuals and institutions has created an exponential growth in the firm�s hedge fund management obligations pushing its assets to the $1 billion level.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
HedgeCo.Net is the most popular hedge fund database and community in the world. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!
Be sure to check out our sister sites. www.hedgefundlounge.com, www.hedgefundtools.com, and www.hedgefundemployment.com.
