West Palm Beach (HedgeCo.Net)- Dexion Absolute Limited has now become one of the world’s largest exchange-traded funds of hedge funds (FOHF) with net assets of GBP 512 million ($1,056.5 million).<\/p>\n
The London Stock Exchange-listed FOHF completed the multi-currency share issue raising GBP 133 million ($274.4 million).<\/em> The issue was sponsored by Hoare Govett Limited, a member of the ABN AMRO group.<\/p>\n Dexion director Nick Browne said, “We are very pleased with the response to this issue. We have built on the foundations established earlier this year in a number of jurisdictions across Europe and Asia, received strong support from many existing shareholders and gained a wide range of significant new pension fund and other institutional investors.”<\/p>\n Bob Cowdell, managing director at ABN AMRO, is quick to point out the significance of the share issue. “This is the largest capital-raising to date in the London-listed funds of hedge funds sector,” he says. “It has more than doubled the size of the Company’s Euro and US Dollar share classes introduced earlier this year.’<\/p>\n The fund of hedge funds provides direct access to Harris Alternatives LLC manager of the ‘Aurora’ range of funds. With a 17-year investment record Harris Alternatives currently manages in excess of $7 billion in funds of hedge funds and segregated accounts.<\/p>\n Dexion’s investment objective is to generate consistent long-term capital appreciation with low volatility and little correlation to the general equity and bond markets through a portfolio having a diversified risk profile. The FOHF has a database of approximately 550 FOHF managers.<\/span><\/p>\n <\/p>\n Alex Akesson HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds! <\/p>\n
Editor for HedgeCo.Net
Email: alex@hedgeco.net<\/a><\/p>\n
Be sure to check out our sister sites.<\/strong> www.hedgefundlounge.com<\/a><\/strong>,<\/strong> www.hedgefundtools.com,<\/a><\/strong> and www.hedgefundemployment.com<\/strong><\/a><\/p>\n