Bernheim, Dreyfus & Co is to allocate a capacity of EUR200 million for its two main investment vehicles – Diva Synergy and Diva Synergy UCITS, to Hyde Park Investment.
The fund’s euro class returned +0.58% net of all fees last year, bringing the performance since inception in January 2007 at +25.00%. Over the past year, the fund significantly outperformed its benchmark index as the HFRX Event Driven Index was down -4.90%.
Meanwhile, the daily UCITS version of its flagship fund, launched in June 2011, returned +1.34% over its first seven months of operations (during the same period, the HFRX UCITS Index was down -5.56%).
Over the past three years, the Diva Synergy Enhanced Fund has delivered a compound 12% annual return and ranks as the highest performing merger arbitrage fund in BarclayHedge and Baron’s listings.
Hyde Park Investment, which has been close to investors and their specific needs since 2004, points out their increasing need for transparency and liquidity. In those areas, the Bernheim team has been exemplary since their launch in 2006.
Bernheim’s strategy aims to provide consistent low volatility returns with minimal correlation to market and peers by trading equity opportunities in Europe and North America. The Fund offers a unique and specialised methodology that focuses on compelling investment opportunities with definable, near term catalysts. The Diva Synergy team is very bullish for 2012 and expects M&A activity to pick up steadily in 2012. With more available financing, cash-rich corporations and private equity firms should start deploying capital in stronger capital markets. The team remains optimistic and confident in its ability to generate profits for its investors in the future.
Hako Finckenstein, Principal at Hyde Park Investment, says: “We are unashamedly selective about the funds which we choose. Our specialised team had conducted due diligence on the Diva Synergy Fund and believe this fund brings a tremendous level of investment management expertise and provides investors with superior risk-adjusted returns through a highly liquid portfolio. The team at Bernheim, Dreyfus & Co. has a 5-year track record of delivering consistent performance, across all market conditions, while protecting capital during volatile markets”