Sydney-based Vertex Capital Management has launched a Cayman LLC for overseas investors interested in its Australian Premium Equity Fund.
APEF is a long/short equity strategy which invests solely in Australian stocks, with the ability to vary its net market exposure between 0 and 70%. Vertex will use its proven stock screening process, with a proprietary covered option writing program, and focused short stock opportunities, to achieve 14-16% net annual returns for investors.
The APEF investment trust was launched in Australia in August 2004. According to Vertex Capital it has returned 5% YTD on an average market exposure of less than 40%.
UBS is the prime broker to the fund and HSBC Alternative Fund Services is the Cayman fund's administrator.