Fund of hedge funds manager, Gottex Fund Management, announced that they intend to launch a publicly listed closed-ended investment company, Gottex Market Neutral Trust, which will be listed on London’s main market.
All proceeds from a placing and offer for subscription, net of working capital requirements, will be invested in a portfolio of underlying hedge funds, it added. No numbers were provided.
The company's initial investment rationale, methodology and portfolio management will be consistent with that of Gottex Market Neutral Fund, a conservative open ended fund of hedge funds that seeks consistent returns with a low correlation to the major stock and bond market, it has been managed by GFM since 1999.
JPMorgan Cazenove is the group’s financial adviser, book runner and sponsor.
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