Thames River Capital has received applications totalling GBP83.5m from the placing of C shares in its top-performing fund, the Thames River Hedge+ fund managed by Ken Kinsey-Quick and Alex
Thames River Capital has received applications totalling GBP83.5m from the placing of C shares in its top-performing fund, the Thames River Hedge+ fund managed by Ken Kinsey-Quick and Alex Kuiper, bringing its aggregate net assets to GBP250m.
Since its launch in February 2004, Thames River Hedge+ has produced annualised returns of 13 per cent, well ahead of its target of 10 per cent per annum, the firm says. So far this year the fund is up 25 per cent, comfortably outstripping both the MSCI World Index, which has gained 15.6 per cent, and the Lehman Aggregate Bond Index, which is up 4.8 per cent.
Thames River says this performance, achieved through a mixed portfolio of directional and non-directional hedge funds, put the fund at the top of its peer group over the three years to April. A cell of a closed-ended Guernsey protected cell company, the fund is listed on the Channel Islands and London stock exchanges and.
‘Following the successful C share issue in July this year, we were confident that the excellent track record of Thames River Hedge+ and the experience of its management team would excite further interest,’ says William Backhouse, chairman of the board of the Guernsey umbrella company, Thames River Multi Hedge PCC.
‘We are naturally pleased that this interest has led to applications in excess of GBP83.5m in what is an extremely competitive market. The broader investor base and consequent increased liquidity, coupled with greater cost-efficiency arising from the larger size of the company upon conversion of the C shares, will be of benefit to all shareholders.’
Thames River Capital was established in 1998 and, together with its affiliate Nevsky Capital, manages more than GBP6.2bn in a range of multi-manager, property, Ucits III and long/short funds investing in emerging market, European and Japanese equities, global credit markets and OECD sovereign bonds. The group has 154 staff including 84 investment professionals and 26 people in sales and marketing.