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.<\/p>\n
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.<\/p>\n
The firm\u00c3\u00af\u00c2\u00bf\u00c2\u00bds 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\u00c3\u00af\u00c2\u00bf\u00c2\u00bds statements.<\/p>\n
Commenting on the growth of ABN AMRO\u00c3\u00af\u00c2\u00bf\u00c2\u00bds hedge fund management business, Gary Vaughan-Smith, Head of Alternative Investments at the firm, said, \u00c3\u00af\u00c2\u00bf\u00c2\u00bdPassing 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.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd<\/p>\n
Assets managed by the firm\u00c3\u00af\u00c2\u00bf\u00c2\u00bds 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\u00c3\u00af\u00c2\u00bf\u00c2\u00bds hedge fund management obligations pushing its assets to the $1 billion level.<\/p>\n
Paul Oranika
Editor-in-Chief
HedgeCo.Net
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