Lombard Odier Darier Hentsch has completed the registration in Switzerland of its new fund, LODH Multiadvisers - Latin America Equity Long/Short.
Launched on 1 June 2006, LODH Multiadvisers - Latin America Equity Long/Short invests - through a selection of talented local managers - in hedge funds who follow a Long/Short strategy in the Latin American equity markets.
After less than two months in existence, the Fund's assets have reached USD 50 million and are invested in close to 13 different managers, mostly located in Brazil. There is currently a USD class of shares as well as a EUR class of shares hedged against the currency risk. As with the other sub-funds of LODH Multiadvisers, the investment management fee is 1.5% p.a. (no performance fees)
The Swiss Federal Banking Commission has reviewed the investment policy and investment restrictions of this new Fund which are set out in the Prospectus of LODH Multiadvisers dated June 2006 and has authorised its distribution from 17 July 2006.