Culross Global Management, a thematic funds of funds founded by Nigel Blanshard in 1992, has launched the Nomura Culross Alpha Note.
The notes, issued by Nomura International and denominated in sterling, give access to two Culross fund of hedge fund portfolios: Culross Global and Culross Arbitrage. The sterling-denominated class of the Culross Global portfolio returned 44.7% in 2007 and 5.16% in 2008.
Initially, the notes, which will be listed on the London Stock Exchange, will be invested 90% in Culross Global and 10% in Culross Arbitrage. This may vary through the life of the investment, and there are facilities