Capital Management Advisors (CMA) has launched a new fund of hedge funds, the Global Diversified Fund, with EUR 60 million.
The assets were raised from European institutional investors using structured products linked to the Global Diversified Fund.
The Global Diversified Fund is expected to be linked to several structured products created by Societe Generale. Planned offerings include capital guaranteed products and leveraged products, issued in the form of listed Notes.
CMA has previously launched over USD 700 Million in structured products, through established platforms with BNP Paribas, Royal Bank of Canada, Macquarie Bank, HSBC and Societe Generale.
The portfolio of the Global Diversified Fund was launched on 1 December 2004 with 37 hedge funds. It has a balanced allocation between Equity, Event Driven and Relative Value strategies, with a smaller weighting to Macro and Trading strategies.
Sabby Mionis, a Principal of the Bermuda based group, said: "We continue our strategy of creating and managing tailor-made fund of funds-linked products for the European institutional market. CMA has established efficient platforms with a broad range of structuring banks, to cater to the increasing demand for hedge fund products. We are growing our distribution capabilities by entering into agreements with third-party distributors in various countries.".
Background Note: Capital Management Advisors is an independent financial advisory group established in 1997 to assist high net-worth individuals, family groups and institutions in the management of their financial assets. The group specializes in the selection of both traditional and alternative investment managers. The Capital Management Advisors Group currently manages over USD 1.4 billion in institutional and private client assets.