Second hedge fund joins SEB's Master Hedge KAG
SEB AG has added a second single hedge fund to its Master Hedge KAG platform in Germany.
The TOMAC Global Hedge MH from investment manager Heyden & Steindl GmbH joins the Aquila Vol Opportunity MH" of Aquila Capital on the platform.
The new fund's strategy will be to identify a specific formation, which usually precedes the trend phase of a market, and then invest in that trend. A programme developed especially for this purpose is already used globally in 40 different futures markets by the TOMAC Global Hedge MH.
The approval for a further fund -- a fund of hedge funds, which uses the SEB platform -- is imminent.
In April 2005, SEB received authorisation for a Master Hedge KAG from the Federal Office for the Supervision of Financial Services (BaFin) allowing the bank to make the general conditions for issuing funds in accordance with German law available to hedge fund managers.
SEB stated: "By choosing SEB as a service provider, hedge fund managers are spared the time-consuming business of setting up their own investment trust, as well as the search for a suitable deposit bank and a professional prime broker, and can concentrate on the management of the fund instead."
Background notes: The SEB group has a 25-year history as a service provider of hedge funds and has specialists in Frankfurt, London, Stockholm, Oslo, Helsinki and Copenhagen. SEB AG is the German subsidiary of one of the leading groups in financial services in Northern Europe. In Germany, the bank service around 1 million clients through its 175-strong branch network catering for private clients, corporate and real estate clients as well as institutional clients. The Swedish group has 5 million clients across Europe and runs 680 branches with about 20,000 employees.
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