Newly formed Saggezza Investment Management, LLC (SIM) is planning to launch its first fund of hedge funds in June 2006.

SIM will manage a unique and nimble long/short biased fund of hedge funds for high net worth and institutional clients. The company aims to distinguish itself from other offerings through superior manager selection, a clearly defined risk/reward profile of its product and a commitment to top-notch customer service. SIM intends to provide a nimble, adaptable and consistent fund of hedge funds to serve as a stand alone or core allocation in an investor's hedge fund allocation.

The fund is targeting a return of between 10% and 15% net of fees, and an annual standard deviation of 6% to 8%.It's aim is to be diversified among 15 to 30 underlying managers and to protect capital during market pull backs. The fund will not use leverage at the fund of funds level and will restrict the leverage of the individual hedge funds depending on the investment strategy.

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