Fairfield Greenwich launches product for EU market
Fairfield Greenwich (UK) Limited (FGL UK) has registered The Fairfield Greenwich Fund (Luxembourg) - Multi Strategy Investments in the Netherlands.
FGL UK is a member company of the Fairfield Greenwich Group (FGG) which has been serving the European alternative investment community with offshore hedge funds managed in the US for nearly 20 years.
FGL UK stated that the new multi-strategy hedge fund, which is organised as a SICAV, has been launched to better serve qualified Dutch and EU private clients and institutional investors.
The company stated "the fund enables investors to gain exposure to a broadly diversified range of underlying funds which are conservatively invested in hedged, arbitrage, relative value and event-driven positions."
FGL UK sees a scarcity in the Dutch market of funds comparable to its new fund, which unlike other FGG funds, benefits from an open architecture approach that utilises internal and external management talent and a rigorous management selection process.
Richard Landsberger, a FGG partner in the firm's London office, said that the fund is the first FGL UK product that can be publicly distributed in the Netherlands, the fund having been approved and registered for distribution by the Dutch regulatory authority, Autoriteit Financiële Markten. To facilitate both retail and institutional access to this vehicle, FGG intends to register the fund in other markets suitable to products of this type.
Cornelis Boele, the FGG partner responsible for the Benelux countries, said: "We are very excited to be able to offer this fund to the Dutch market. We know that there are many Dutch investors who want lower volatility alternative vehicles that can provide good diversification to their portfolios."
Mr Boele said: "The underlying funds in this portfolio, consistent with our core investment philosophy, are expected to have relatively low volatility, low correlation both within the portfolio and to the broader markets, and good risk adjusted performance."
"Managers must demonstrate their willingness to disinvest when the markets become excessively volatile or opportunities become scarce. We believe that this combination of attributes, which is achieved as a result of FGG's careful management selection and our ability to perform accurate risk monitoring due to our complete portfolio transparency, will provide an excellent opportunity for investors."
He added: "Owing to its Luxembourg UCI Part II structure, the fund also offers investors regulatory protection not afforded by 'offshore' hedge funds and represents a more flexible investment opportunity under Dutch laws."
The fund is an investment company with variable share capital (SICAV) governed by Part II of the Luxembourg law dated 30 March 1988 relating to undertakings for collective investment. The fund is listed on the Luxembourg Stock Exchange and managed by FGL UK (regulated by the FSA) and offers classes denominated in Euros and US Dollars. The fund provides for monthly liquidity and a minimum investment of Euros 25.000 for the private client series and Euros I million for the institutional series.
Background Note: The Fairfield Greenwich Group was established in 1983 and has over US$5 billion in client assets deployed in alternative asset management funds. Throughout its history, FGG has internally managed its own alternative asset management funds and sought and secured strategic joint venture relationships with hedge fund managers capable of delivering good risk adjusted returns. Capital preservation instincts, experience, willingness to provide complete transparency for risk monitoring purposes, and maintenance of significant portfolio liquidity have always been dominant considerations in FGG;s manager relationships. FGG is headquartered in New York City, with a significant presence in London, as well as marketing and client support offices in other locations in the US, Europe and Latin America.
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