Irish-based hedge fund multi-manager Abbey Capital has launched the Malta-domiciled Abbey Capital Macro Fund, offering access to a group of global macro managers with low historic correlations and providing diversification across market sectors, timeframes and trading styles.
Founded in May 2000, Abbey Capital is registered in the US as a commodity pool operator and commodity trading advisor, and is a member of the National Futures Association. The Abbey Capital Macro Fund will invest with managers trading in financial and commodity markets and will allocate to managers using both managed accounts and fund vehicles.
'We believe that the recent dislocation in the credit markets, which has increased volatility in the financial and commodity sectors, should provide a positive environment for a global macro approach,' says Abbey Capital's founder and chief executive Tony Gannon.
The addition of the macro funds to Abbey Capital's range of managed futures and foreign exchange vehicles draws on the firm's institutional due diligence approach to manager selection, risk management and portfolio construction.
The firm allocates more than USD1bn to the managed futures, macro and foreign exchange sectors. Abbey Capital's flagship programme, a multi-manager managed futures and foreign exchange product, has generated annual returns averaging 10.1 per cent, uncorrelated with equities, since 2000.