LONDON (Reuters) – Thames River Multi Hedge fund plans to raise up to 100 million pounds innew assets, its second fundraising in a matter of months, because of investor demand for absolute return products.<\/p>\n
The 154 million pound fund of hedge funds (TRMU.L: Quote<\/a>, Profile<\/a>, Research<\/a>), which in July raised 73 million pounds of new assets, plans to raise further funds via an issue of new shares, it said in a note to the Stock Exchange on Wednesday.<\/p>\n The fund will target 50 million pounds in new assets, with an upper limit of 100 million pounds, Michael Warren, Investment Director at fund manager Thames River Capital, told Reuters.<\/p>\n “We’ve had a lot of clients asking for us to do it … There is an appetite for absolute returns,” he said.<\/p>\n The fundraising comes during a turbulent time for the hedge fund industry, which has seen some funds suffer badly during this summer’s credit and equity market volatility, while a small number have been able to profit.<\/p>\n Thames River Multi Hedge’s net asset value has risen 11 percent over the past six months and its shares are on a 4 percent premium to NAV.<\/p>\n