The Cardona Lloyd Hedge Portfolio Limited has listed its two funds of hedge funds on the Irish Stock Exchange.
One fund of hedge funds is US dollar denominated and, taken together with its underlying predecessor fund, has had only five down months during the last five years.
The second fund of hedge funds is Euro denominated and is invested in more than 30 hedge funds managed in a wide diversity of styles. This fund tolerates greater volatility and targets a higher overall return.
The fund manager is Cardona Lloyd & Co Limited, a London-based investment banking company which offers corporate finance services in addition to investment management.
The Cardona Lloyd Hedge Portfolio Limited is a Guernsey-incorporated open-ended investment company, of which the two funds of hedge funds form separate share classes.
The fund administrator is Butterfield Fund Managers (Guernsey) Ltd and the custodian is Bank of Butterfield International (Guernsey) Ltd. The Irish listing was sponsored by Goodbody Stockbrokers.
Background Note: The Cardona Lloyd Hedge Portfolio's investment adviser is Cardona Lloyd & Co, created by founding partner George Cardona, who after being a Special Adviser to the Treasury in the first Thatcher Government became head of group strategy at HSBC and then a general manager of HSBC Bank. It aims to bring investment opportunities formerly available only to financial professionals and the very wealthy to a wider group of investors. It also offers corporate finance services, specialising in financial services and media.
copyright hedgeweek 2003