Leading specialist in alternative investment solutions Peak Partners has launched a new fund of hedge funds focusing on asymmetric return strategies on the 1st of May 2008. For its first three months of operation, the fund returned 1.95% in USD net of fees during very difficult times for most alternative strategies.
Mont Blanc Summit invests in specialized hedge funds pursuing strategies which structurally provide investors with stable returns in declining markets while conserving significant upside potential once markets recover. This imbedded asymmetry is typically achieved through structured private placements and over-collateralized loans with equity kickers, but also with more traditional alternative strategies such as distressed and deep value investing.
Robert Seiler, Senior Analyst and Portfolio Manager of the fund says:'Most hedge fund managers pursue trading-based strategies that seek to generate absolute returns in every type of market. However, experience shows that it is difficult to discriminate between skill and luck and that even talented traders experience difficult times that can produce significant drawdowns for investors. The philosophy of Summit is to invest in alternative strategies that provide structurally asymmetric returns and do not depend on trading skills or market timing. It is Peak Partner's long and successful investing in such strategies that enables us to propose this innovative product to our clients. The current credit crunch environment is ideal to launch such a product as it provides the underlying managers with very attractive deals - which have the potential to generate outsized returns over the coming years.'
Mont Blanc Summit is the first Luxemburg CIF specialized in these strategies. The Fund currently offers a US dollar class, as well as Euro and Swiss francs fully hedged classes. Assets under management as of August 1st were 57 million USD. About Peak Partners:
Peak Partners SA is a Geneva, Switzerland based fund manager focusing on specialized funds of hedge funds for sophisticated institutional investors. The company employs extremely experienced team of investment specialists and manages the Mont Blanc family of funds as well as a limited number of dedicated specialized funds of hedge funds for selected institutional investors.
Manager background - About Robert Seiler:
Before joining Peak Partners, Robert Seiler was Senior Alternative Investments Analyst with Anglo Irish Bank (Switzerland) SA, where he was responsible for the low volatility strategies such as Asset Based Lending, Private Investments in Public Equities, Credit Arbitrage, etc.. Prior to that, Robert was the Portfolio Manager of Banque de Gestion Edmond de Rothschild in Monaco, where as a key member of the Investment Committee he was instrumental in introducing hedge funds to the bank's asset allocation. He started his financial career in the mid 90's at UBS, holding various investment and research positions in the Private Banking and in the Asset Management divisions. Robert obtained a Master's degree in Economics and Finance from Geneva University and is a CFA charterholder since 1999. He also holds the CAIA professional designation.