Peak Partners in Geneva has launched the Granite specialised Investment Fund-Emerging Markets, which has been seeded with $15 million. The Granite Emerging Markets Fund is an open-ended fund of funds with bi-monthly liquidity that will invest 35% to 65% of its assets in hedge funds via managed account platforms and the balance in long-only mutual funds and ETFs.
The fund is targeting returns of 14% to 18% per annum with volatility of less than 18%. It will charge a 1.5% management fee and a 10% performance fee with a high watermark. On a pro forma basis, the portfolio