CQS, the $8.2 billion alternative asset manager led by Michael Hintze, is planning to set up a listed vehicle on the London Stock Exchange that will provide exposure to a range of the firm’s hedge funds through its Diversified multi-strategy fund.
The firm already runs an offshore version, the Cayman-domiciled CQS Diversified Fund, into which the listed offering will invest. At present, CQS Diversified allocates to five convertible and credit-focused strategies managed by the firm. It is up just over 10% so far this year, having made 25% in 2009. The fund has an annualised net return of 10.20%