Nomura announced the launch of its latest newcits – the HFRq UCITS III Fund
Nomura announced the launch of its latest newcits – the HFRq UCITS III Fund – on its Dublin-domiciled Enovara plc platform this week. Hedge Fund Research, using its underlying HFRq index, is the fund’s index sponsor, with Quantitative Equity Strategies acting as index advisor. Hedge Fund Research Asset Management completes the collaboration. State Street Fund Services (Ireland) will be the fund’s administrator. In terms of strategy, the fund will use an algorithmic and rules-based methodology devised by QES to take long/short positions in up to 54 separate futures contracts to generate absolute returns, with HFR responsible for selecting and then managing said contracts. Investors to the fund will receive exposure (rebalanced weekly) to asset classes ranging from global equities and fixed income to commodities and currencies. “The fund gives investors exposure to the only passive hedge fund replication Index launched and sponsored by HFR, the main research and benchmark provider in the hedge fund industry for the past 18 years,” said Mohamed Yangui, MD Head of Product Development and Structuring Group, in the bank’s official press release.