Permal’s first registered FoHF outperforms the InvestHedge Composite index in its first six months of operation
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