Geneva-based Lombard Odier Darier Hentsch & Cie has been authorised to market LODH Delta Global Fund, a new Swiss fund of hedge funds, from today.
The authorisation by the Swiss Federal Banking Commission follows the successful launch in October 2003 of LODH Alternative Strategies, a Swiss alternatives fund, which had taken in assets of over CHF 1 billion as of March 30, 2004.
LODH Delta Global Fund is launched today (30 April 2004) with assets of more than CHF 270 million. It will offer investors subscriptions on a monthly basis and redemptions on a quarterly basis.
With 15 years' experience in alternative asset management and over CHF 3 billion invested in hedge funds through various types of vehicles, Lombard Odier Darier Hentsch & Cie is significantly expanding its product offering in the Swiss market with the launch of this new fund of hedge funds.
Aimed at meeting the needs of private and institutional clients, LODH Delta
Global Fund is intended to complement LODH Alternative Strategies, whose return/risk ratio is similar to that of fixed income investments.
LODH Delta Global Fund has a multi-manager, multi-strategy approach, but remains fairly concentrated. Its portfolio is made up of 25 hedge funds covering 5 different alternative strategies, which are primarily directional, i.e. long/short U.S. equity, long/short European equity, long/short Asian equity, global trading and global arbitrage.
LODH Delta Global Fund is a fund of funds divided into several segments, each of which has a similar investment policy but is denominated in a different currency, i.e. Swiss francs, euros and U.S. dollars, and has suitable hedging against currency risk.