Hedge Funds

ABS Investment Management launches long/short fund of funds


Alain De Coster's ABS Investment Management announced it is launching a fund of funds dedicated to low-exposure long/short equity funds, which the firm defines as having no more than plus or minus 20% net market exposure at all times.

The new fund of funds, to be launched by De Coster and principals Laurence Russian and Guilherme Valle, will target aggregate beta-adjusted net exposure of plus or minus 10%. The strategy tends to have low leverage and uses liquid, exchange-traded equities, according to the announcement.

ABS, based in Greenwich, Conn., manages about $580 million in assets.