Mon, 23/01/2006 - 06:11
PCE Investors, the London-based investment management platform, has added the ABACO Financials Fund to its platform.
Patric de Gentile Williams, Chief Executive Officer of PCE, said: 'We continue to develop our business to address the needs of both hedge fund managers and investors.
Established funds can now benefit from the economies of scale that PCE has traditionally offered to start up operations; most obviously our recent move to offices in the West End of London'.
He added: 'We look forward to announcing a number of exciting new strategies over the next six months'.
Launched in June 2003, the ABACO Financials Fund is a market neutral equity fund which invests in listed financial institutions with a European bias. An institutional investment vehicle, it has assets under management of USD 65 million with further USD 25 million committed for 2006.
To date, the fund has consistently generated 97 per cent alpha returns and is less than 20 per cent correlated with equity markets and only 22 per cent correlated with the financials sector. It has had a compound return, net of all fees, of 6.8 per cent, an annualised volatility of 3.76 per cent and a Sharpe Ratio of 1.25.
With zero style drift, it has been a first quartile performer in the market neutral space since inception.
Inigo Lecubarri, Founder of the ABACO Financials Fund, said: 'My colleagues and I are delighted to have joined the PCE platform. One of the main reasons we decided to partner with PCE was in response to our need for more flexibility, strong infrastructure and operational economies of scale.'
PCE provides new and existing investment managers with comprehensive, flexible infrastructure services to include compliance, risk management, operations, technology and marketing. In the last year the group's total assets under management have increased ten fold. As at January 2006, assets under management are USD330 million.
PCE can now offer institutional investors the following ten strategies:
• European Equity Small Cap Long/Short: E&P Europe Long/Short Fund Ltd
• European Equity Small & Mid- Cap Long/Short: Celeste European
Small & Mid Cap Fund
• Global Convertible/Arbitrage: Boston & Alexander Number 1 Fund
• Global Macro: Cadwyn Global
• Global Macro: The Global Essential Fund
• Japanese Equity Long/Short: Akamatsu Fund
• Market Neutral Equity: ABACO Financials Fund
• US Equity Quantitative Long/Short: Beaufort US Chaos Fund LP
• Weather Related Event Driven: Cumulus Weather Fund 1
• US Equity Quantitative: IMT Investing Limited.
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