Aros Capital Partners, a London-based Anglo Danish independent investment manager, has launched with the introduction of the Aros Paradigm Fund Sicav.
Both the fund vehicles and management company are domiciled within the EU, making it a complete onshore hedge fund structure but which is not constrained by Ucits III.
The structure has gained the approval of three regulators – the Financial Services Authority, the Maltese Financial Services Authority and the Danish regulator Finanstilsynet.
The founding team behind the company consists of Nicolai Borcher Hansen, Peter Brink Madsen, Christian Falster and Jacob Madsen. Three of the founders recently broke away from Denmark’s largest privately owned asset manager, Formuepleje.
The Aros Paradigm Fund is an open-ended vehicle aimed at high net worth and institutional investors. The investment strategy is based on a proprietary dynamic asset allocation model, aiming to create an investment with the highest risk adjusted return.
Borcher Hansen says: “Our focus will be first and foremost on our clients’ interests and on honest long term relationships – and this is much more than rhetoric. We are well aware of the problems that have characterised the recent crisis and of the need both to reassure investors and to break the mould. There are many things we would like to lead from the front on, but in particular, we do not think it is reasonable for companies to set the official NAV calculation of their own funds. This is the reason for the structure of our fund, and our pioneering system of checks and balances, using independent parties as external controls.”
The fund will be launched on 2 November 2009 and will target a return of ten to 12 per cent per annum over the next three years.
It will focus on global bonds and equities, Danish mortgage bonds, FX and derivatives.