Funds of Hedge Funds Mergers & Acquisitions / Joint Ventures

Permal follows new fashion with managed account fund


Funds of managed accounts are likely to be all the rage in 2010. Permal Group, the sixth largest fund of funds in the world with $20 billion in assets, has launched the Permal MMF (Lux) Advantage Multi Strategy Fund at the start of the year.

Roberto Giuffrida

The Permal MMF (Lux) Advantage Multi Strategy Fund is Permal's first multi-manager product to focus almost entirely on underlying separately managed accounts, a concept that has been widely used in the commodity trading environment for many years.

International Standard Asset Management, run by Stanley Fink, also plans to