IceCapital Fund Management Company Ltd. announced in a press release on Wednesday that it has launched a new non-UCITS mutual fund, IceCapital Alternative Beta, which offers hedge fund like return, in liquid and risk-transparent form. The fund is the first of its kind in Finland and one of the earliest in Europe.
UCITS - Undertakings for Collective Investment in Transferable Securities - is the name given by the European Union (EU) to pan-European investment funds.
The fund is based on latest research on so-called alternative risk premiums. The strategy is to invest in alternative market risk factors, or alternative betas, with which it is possible to form a portfolio that closely tracks the average performance of hedge funds. At the same time the investor receives extra return, or risk premium, as compensation for risk while benefiting from better diversification than in the traditional equity and bond investments.
"The very fast growth of IceCapital's asset management business is due to quick innovativeness. IceCapital Alternative Beta fund is yet another example of that. At the same time, the fund's broad core-satellite range of investments is supplemented with an attractive active investment", says Managing Director, Jyri Viskari.
Mutual Fund IceCapital Alternative Beta starts on 14 March 2007. The minimum investment amount is 100.000 Euros and the fund is open weekly. The portfolio manager of the fund is ICECAPITAL Asset Management Ltd’s Chief Investment Officer Mikael Simonsen.
IceCapital Asset Management and IceCapital Fund Management are part of the independent IceCapital Group, which focuses on investment banking, asset management and private equity. The group currently manages assets reaching 2 billion Euros.
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