Gerken Capital Associates to launch LatAm fund with BBVA
Gerken Capital Associates (GCA) is preparing to launch the GCA Latam Hedge Fund with BBVA Bancomer (BBVA). The official launch date for the new fund is 1 August. GCA and BBVA have committed to seed the fund with up to USD 25 million of investment.
As part of its institutional grade manager approach, California-based GCA has entered into a long-term and exclusive agreement with BBVA. BBVA is a wholly owned subsidiary of Madrid-based Banco Bilboa Vizcaya Argentaria S.A. (BBVA SA). BBVA is Latam's leading asset management company and has the largest on the ground investment team. The Latam team manages 106 Latam mutual funds with AUM of USD 17.3 billion and advises seven international funds with USD 220 million in AUM. BBVA also manages USD 36.4 billion in pension fund assets. Collectively, BBVA services over 13 million Latam investors. BBVA's investment experience spans all asset classes, including equity, fixed income, foreign exchange and derivatives. BBVA SA is a JV Partner to Altitude, a Hedge Fund of Fund, and BBVA & Partners, an EU Regional Hedge Fund.
Lou Gerken says: 'We believe that our Fund is positioned to be the 'institutional grade management team' of choice for Latam investors. With the region's largest on the ground investment team, the Fund ensures the requisite infrastructure (risk management, research and trading platform) to effectively deploy the Fund's investment objectives.
'The Fund's investment objective is to achieve absolute, uncorrelated and annualized investment returns >15% (net), on a risk-adjusted basis. The Fund will actively and dynamically manage assets across all asset classes utilizing a range of investment strategies. Assets will be invested throughout Latin America, with primary focus on the Brazil, Mexico, Argentina and Chile markets. We believe that the Latam region offers a very attractive near and long term investment outlook for investors'.
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