The $20.8 million Permal Hedge Strategies Fund is invested
in 32 managers and, since 31 March 2012, it has seen its assets
grow by more than $700,000.
Under the Legg Mason mutual fund umbrella,
Permal’s first registered fund of hedge funds
officially commenced operations on 1 February 2012. The
investment adviser is Legg Mason Partners Fund Advisor, while
Permal Asset Management – the eighth largest FoHF in
the world, according to InvestHedge, with $19.4 billion under
management – is the sub-adviser.
For the first month of operation the fund was up 0.4%, and
for six months ending 30 September 2012, the FoHF is up 0.6%,
compared to the InvestHedge Composite for the same period of
time, which was down 0.1%.
The fund is managed by Javier Dyer and Alexander
Pillersdorf, and unlike many of its peers has, at least at
present, no defined allocation to...