Strong inflows have prompted Stenham to close its Universal II fund and to open a new multi-strategy fund.
Stenham Universal II closes with effect from 1 March while the opening date for the new Stenham Multi Strategy fund is 1 April.
The company took the decision because of the limited capacity of many of the managers in which Universal II invests. Further inflows would have necessitated increasing the number of managers to a level in excess of what Stenham considered to be ideal for a fund of that nature.
Stenham Multi Strategy will replicate Stenham Universal II in terms of strategy allocations, using different managers, but of the same quality. As a result, Stenham expects its new fund, which will feature USD, EUR and GBP classes, to achieve similar performance to that of Stenham Universal II.
The full range of Stenham funds currently open to new investment are listed below with their last 12 months' performance. In addition, the company continues to offer its Pinnacle Portfolioservice - bespoke discretionary managed accounts.
|Fund Strategy||12m to Jan 06||Currency Classes|
|Stenham Growth Global Long/Short||+15.42%||USD|
|Stenham Global Macro Global Macro||+2.77%||USD, EUR, GBP|
|SGLAsia2 Asian Long/Short||+13.13%||USD, EUR, GBP|
|SGLGold2 Gold Bullion/Gold Managers||+42.07%||USD, EUR, GBP|