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.
ISSN: 2151-1845 / CDC10004H
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