The fund of hedge funds division of Pioneer Alternative Investments has launched the Luxembourg-domiciled Momentum AllWeather Feeder Fund, which provides access to its flagship Momentum AllWeather Fund, established in 1995 and the Orbit Global Feeder Fund, which provides access to the fund of long/short equity funds Orbit Global Strategy Fund.
Both the Momentum AllWeather Feeder Fund and Orbit Global Feeder Fund are sub-funds of the Pioneer Alternative Investment Funds (Lux) umbrella structure, a Sicav or open-ended investment company regulated as a Specialised Investment Fund aimed at professional and well-informed investors.
The Momentum AllWeather Fund seeks to achieve steady capital appreciation in all market conditions with minimal drawdowns, low volatility and limited correlation to the equity and bond markets, while the Orbit Global Strategy Fund aims to achieve capital appreciation in rising markets with limited downside participation in falling ones.
Following the launch of Pioneer Absolute Return Equity and Pioneer Absolute Return Equity Asia with Structured Invest, Pioneer Alternative Investments says the launch of the two feeder funds represents a further step in its strategy to bring alternatives to a larger institutional market. Both funds will be marketed to the institutional offshore markets worldwide.
'At Pioneer Alternative Investments, we are continuously making efforts to deliver solutions best adapted to meet client needs,' says chief executive Alberto La Rocca. 'By having funds of hedge funds domiciled in Luxembourg we can now provide more accessibility for investors.'