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Thames River launches EUR37.7m Kingsway Plus to offer higher risk/return profile

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Thames River Capital has launched the EUR37.7m Thames River Kingsway Plus fund to offer investors a more aggressive risk/return profile than the EUR345.4m Kingsway Fund by taking on twice

Thames River Capital has launched the EUR37.7m Thames River Kingsway Plus fund to offer investors a more aggressive risk/return profile than the EUR345.4m Kingsway Fund by taking on twice the leverage.

Kingsway Plus aims to generate high risk-adjusted returns and long-term capital growth through investing in pan-European equities and equity-linked securities on both a long and short basis.

The original Kingsway Fund, a defensive European hedge fund, has produced an annualised return of 17.08 per cent over its eight-year history, and since the implementation of a new hedge overlay strategy in August 2005 has participated in over 75 per cent of market upside but less than 10 per cent of its downside. This strong asymmetric return profile has lent itself to the increased leveraging offered by the Kingsway Plus Fund.

Tony Zucker, head of European equities at Thames River and manager of the new fund, says: ‘Initial response to Kingsway Plus has been excellent and the EUR37.7m raised to date is testament to this.

‘The outstanding track record of Kingsway has been influential in attracting investor interest, but the prospect of enhanced returns through the increased leveraging offered by Kingsway Plus has particular appeal to investors with more aggressive risk/return profiles. We are sensitive to current investment appetite, and indications from existing and potential investors suggest strong ongoing demand for this fund post-launch.’

Thames River, which was established in 1998, and its affiliate Nevsky Capital managed more than GBP5.5bn at the end of May in multi-manager hedge funds, property funds, Ucits III funds, and long/short funds investing in emerging market, European and Japanese equities, global credit markets and OECD sovereign bonds. The firm has 126 staff including 72 investment professionals.

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