Asset Alliance International has responded to demand for diversified exposure to Central and Eastern Europe by launching a fund of funds focusing on the region.
Asset Alliance says it is the first fund of funds dedicated to managers that invest in Central and Eastern Europe. The multi-strategy fund of funds will initially invest in 15-20 managers across a variety of strategies.
James Parker, Managing Director of Asset Alliance International, said: "It is exciting to be first to market in a region that has so much potential and offers so many attractive investment opportunities.'
Asset Alliance International has been researching the Eastern European hedge fund universe since the beginning of 2005 and says it has been monitoring '90 per cent of relevant funds in the space'.
A team of six analysts in London and New York will perform due diligence on, and monitor managers. Portfolio construction is driven by the firm's Investment Committee, headed by Bruce Lipnick, President and CEO and Barry Wintner, Director of Research at Asset Alliance.
According to Asset Alliance International, the economies of Central and
Eastern Europe are in growth phase due to:
- Higher oil prices leading to increased revenues in Russia
- Economic convergence with Eastern bloc countries joining the EU
- Entry to the WTO for Russia and the Ukraine
- Increasing liquidity across markets due to a growing number of IPOs.
Background notes: London-based Asset Alliance International, Ltd. was founded in 1999 and expands Asset Alliance Corporation's global presence through manager research, joint ventures and the development and distribution of specialised products throughout Europe, Asia and the Middle East. Asset Alliance Corporation, founded in 1996 and headquartered in New York, is a privately held company that assists and invests in diversified alternative asset management firms, and provides specialized alternative investment products and services to institutions and high net worth individuals.
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