Fri, 01/08/2014 - 12:06
Lyxor Asset Management, now a fully licensed alternative investment fund manager (AIFM), has launched two AIFMD compliant funds of managed accounts.
The Lyxor Diversified Fund (LDF) and the Lyxor Focus Fund are liquid, multi-strategy funds invested across the hedge funds of Lyxor’s managed account platform (MAP).
With this new status, Lyxor is now authorised to offer professional investors in Europe a complete offering of alternative investment solutions and is one of the few asset managers with flagship strategies open for investment under AIFMD.
LDF and Focus invest in between 15 and 25 Lyxor managed accounts across a range of hedge fund strategies. Lyxor uses an active management approach, adjusting the portfolios as often as weekly, to align with evolving market opportunities. LDF targets returns of LIBOR plus five per cent p.a. and Focus runs a high-conviction portfolio with a performance objective of LIBOR plus seven per cent p.a.
Management fees start at 0.50 per cent p.a. and performance fees are five per cent over LIBOR. Both strategies have a long track record of performance. The LDF strategy started in March 2001 and is Lyxor’s longest running multi-manager programme. The Focus strategy started in 2006.
The funds, now passported for marketing to professional investors in 10 countries, are available in EUR, USD, GBP, CHF and JPY.
“In the current macro environment, professional investors are hard pressed to find sources of sustainable performance. As markets normalize, the outlook for directional strategies is increasingly uncertain and the consensus is that talented hedge fund managers stand to deliver significant alpha in 2014 and beyond,” says Jean-Marc Stenger, chief investment officer for alternative investments at Lyxor.
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