Hedge Funds

OneWorld expands its horizons


New York-based OneWorld Investments is getting ready to expand its area of expertise with the addition of a second hedge fund. The long/short equity fund, dubbed OneWorld Emerging Macro Fund, will focus on emerging markets, sovereign debt, currencies and equities. The new fund will invest equally across the three emerging market asset classes. The emerging macro fund is slightly more aggressive than the firm's existing fund, OneWorld Sovereign Growth & Income which invests 80%-90% of its portfolio in emerging market debt, and the rest in currencies and equity.

The fund is targeting 20%-30% in returns net-of-fees, with a volatility