Absolute Capital Management Holdings Limited has launched a German retail hedge fund product for both private and institutional investors.
Sean Ewing, Chairman and CEO of ACMH, said: 'This represents our first move into the retail space enabling investors to access our funds at a reasonable entry level. We believe there is significant scope to develop our presence in this market and we are actively considering similar retail products for other markets.'
Launched through SEB bank in Germany, the Absolute Diversified Certificate was launched on 28 August and is designed to enable private investors to participate in the absolute return funds managed by ACMH with a minimum investment level of EUR 5,000.
The fund is also open to institutional investors with a minimum investment level of EUR 250,000. The Absolute Diversified Certificate is issued by the Scandinavian Bank SEB, which is listed on the Stockholm Stock Exchange and is one of the largest Nordic banks capitalised at approximately EUR 15bn.
The Absolute Diversified Certificate is aiming to attract EUR 100 million from private and institutional investors. The product has been created to deliver absolute returns for risk conscious investors and has a 40-day notice period from the month end ensuring good liquidity. ACMH manages 8 funds, two of which (The Absolute India Fund and The Absolute Activist Value Fund) were launched on 1 July 2006.
Background notes: Absolute Capital Management Holdings Limited is a specialist fund management company focused on delivering investment returns through the management of absolute return funds, launched in 2001. The company has offices in Spain, Germany, Switzerland, United Kingdom and Cayman Islands. The group manages 8 funds and has over USD 1.2 billion under management.