Niagara Capital Partners is launching a new feeder fund the Friedberg Global Macro Hedge Fund Ltd.
Cayman National Trust Co is to administer the new fund, which has been established to provide a vehicle for a number of interested institutional investors who have been precluded from investing in the master fund.
Portfolio Manager Albert Friedberg welcomed the move, saying: 'A broader and more institutional client base can actually serve to improve returns.'
Niagra has indicated that Cayman National was chosen to administer the new fund primarily because of their reputation for responsiveness.
'With the majority of the funds they administer having less than a billion dollars under management, they were a perfect fit for our fund which has a cap of USD 500 million,' says David Rothberg, the fund's Risk Manager.
The Friedberg Global Macro Hedge Fund currently has assets of USD188 million and was recently opened to outside investors. Since its debut in 2001, it has compounded at over 13%, with low and declining volatility, small draw-downs, and low correlation to other global macro funds. In June the Fund earned 1.27%, and is up 3.77% year to date.