Hardt Group has launched Hardt Group Securities SA, an innovative Luxembourg-based, alternative investment securitisation vehicle.
Set-up and sponsored by Hardt Group Investments AG Vienna, Hardt Group Securities' first issue of junior and senior instruments linked to a portfolio of alternative investments took place on 31 October. The new vehicle is designed as a securitisation umbrella company under the new Luxembourg law.
By establishing an open issuing programme linked to various asset classes --called Astrax -- with ring-fenced investment pools providing independent investment characteristics and rules, Hardt Group took advantage of the attractive legal, regulatory and tax framework for Luxembourg securitisation vehicles.
The unique legal structure has been developed together with the international law firm Linklaters. The vehicle is administered by HSBC in Luxembourg.
"Astrax enables investors to access a wide pool of extraordinary investment opportunities," says Dr Alexander Schweickhardt, CEO & Principal of Hardt Group. "The targeted asset class includes alternative investments like hedge funds, CDOs, and real estate, as well as non-financial markettypes of exposures. Investors can either benefit from a broad diversification of the underlying assets or receive a highly focused investment. Clients can also create their own tax optimised risk-return profile by applying various levels of leverage."
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