Harcourt Investment Consulting AG has launched Belmont Asset Based Lending Ltd, its first fund of funds fully dedicated to asset based lending strategies.
The fund was launched in July 2006 and will allow investors to achieve ultimate diversification benefits and a high level of stability, given the low correlation of the strategy with the equity and fixed income markets. Harcourt Investment Consulting AG has been an active investor in the asset based lending space for a number of years. The launch of the new fund is a logical step given that the firm has uncovered many niche ABL hedge funds for future investment.
The target of Belmont ABL Ltd is to achieve consistent annualized returns of Libor+300-500 bps net of fees, with very low volatility. The product is currently investing in excess of 10 underlying hedge funds, with the portfolio expected to grow to 20-25 funds in the near future. The strategies pursued by the underlying funds include real estate, accounts receivables, inventory financing, trade and commodity financing, insurance-related products, PIPEs and others.