Del Mar Asset Management has announced plans to launch the Index Opportunities Fund, a carve-out of a strategy that is currently part of the multi-strategy Del Mar Master Fund.
Del Mar Asset Management has announced plans to launch the Index Opportunities Fund, a carve-out of a strategy that is currently part of the multi-strategy Del Mar Master Fund.
The fund, which will be launched on 1 April, focuses on anticipated and announced changes in the composition of global indices. It seeks to exploit the supply and demand imbalance and resultant pricing anomalies that occur as index funds adjust their constituent holdings following index rebalancing events.
The fund is managed by Ryan Longfield, who previously co-managed North American programme trading for Deutsche Bank.
Since incorporation into the Del Mar Master Fund in May last year, the strategy has proven successful, posting 11.04 per cent for the final eight months of 2008. It is up 2.34 per cent so far this year.
The launch of the carved out fund comes in response to demand from institutional investors for a liquid fund. Del Mar’s Index Opportunities Fund offers monthly liquidity, 21 days’ redemption notice, and no gate or lock.
‘We are extremely excited about the launch of the Index Opportunities Fund,’ says Del Mar founder and chief executive David Freelove (pictured). ‘The fund offers investors something that is not traditionally a hedge fund product, but one that is more familiar amongst proprietary trading desks.
‘With little competition amongst hedge funds and diminishing activity on proprietary trading desks, we feel that this fund, coupled with its monthly liquidity, provides our clients with a product fit for these times.’
