Permal launches first UCITS III fund to be built of underlying managed accounts

Fri Jul 2, 2010




Permal, a $20 billion fund of funds group launched in 1973, has entered the UCITS III space with an active trading fund, but unlike its rivals in this Newcits space, its offering is thought to be the first build entirely of underlying managed accounts. TT International, QFS Asset Management, Apex Capital and NWI Management are some of the managers selected by Permal for the product which is called the Active Trading Fund. The fund will invest in between 11 and 15 managers and target returns of 8% to 10% per annum and volatility of 5% to 7% per annum. Like other funds of this genre it will have weekly liquidity with 48-hour notice.


Omar Kodmani


Strategic...

TAKE A FREE TRIAL

The full contents of this article are available to active InvestHedge subscribers and trialists only.

To continue reading please,
take a free trialsubscribe or log in to InvestHedge.

Subscribe

Subscribers have unlimited access to all current content, including fund performance Live League Tables. Start your subscription today - click on the button below.

Subscribe now