Prime Capital AG, an independent asset manager and financial services provider, has launched PCAM Select, a new multi-strategy fund of hedge funds.
PCAM Select expands Prime Capital's absolute return offering and follows the highly successful PCAM Blue Chip Ltd, which was launched in 2007 and has been hard-closed since the end of 2017 after reaching an investment volume of approximately USD850 million. PCAM Select's underlying portfolio currently comprises 16 target funds that invest across the entire strategy spectrum. Up to 25 per cent of the capital is invested in medium-sized, agile managers, while the majority of the capital is invested in established blue chip managers.
"PCAM Select is another example of our many years of expertise in putting together risk-return-optimised portfolios with hedge funds," says Dr Werner Goricki, board member and CIO. "The fund offers institutional investors efficient access to a broad and robust strategy mix with clear return targets. In addition to the proven large managers, we have included selected smaller, focused hedge fund managers in order to further optimize performance. PCAM Select is therefore suitable for stabilizing and diversifying portfolios with very low beta to the equity market.”
"The launch of PCAM Select is an important step in expanding our product range in the absolute return segment. Interested investors will also be able to look forward to further products from our company in the future, also in the area of highly liquid investment strategies," adds Andreas Kalusche, board member and Head of the Client Solutions Team.
The fund aims for an annual net return of 7-8 per cent with a volatility of 4-5 per cent. The fund has the legal form of a Luxembourg SICAV, charges a management fee of 0.5 per cent pa and a performance fee of 5 per cent.
PCAM Select was launched on 1 August 2018, with an initial capital of approximately USD60 million. Based on existing capital commitments from various investors, the fund volume is expected to reach at least USD125 million by the end of the year.
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