Corazon Capital, the Guernsey-based specialist investment
manager, has announced the launch of a fund that will invest in a
number of elite managers in the hedge fund industry to take
advantage of a set of exceptional circumstances.
The 'Argentum Fund', launched this month, will give
investors diversified access to 16 previously closed or hard to
access 'super' funds.
The Corazon Argentum Fund will aim for steady capital growth
with low to medium volatility and will target institutional and
high net worth investors. Performance data based on composite
returns from each of the managers shows a return since October 1998
annualising at over 15% with volatility of 6%.
The Fund, which has a total capacity of US$400 million and has
targeted a soft close date of 31st March 2009, is
available in Sterling, Dollar and Euro share classes. The minimum
investment is US$400,000 for share class A, and US$100,000 for
share class B. Corazon Argentum will be offered in two forms: a
Cayman domiciled open ended fund and a UK listed medium-term note
structure offered by Nomura.
Commenting on the launch of the new fund, Paul Meader, Director
of Corazon Capital said: "The high rate of redemptions from
hedge funds during 2008 as the market meltdown took hold, coupled
with poor returns from almost all strategies has had one
significant and beneficial effect. A number of the world's best
hedge funds over the last decade or more are currently providing
limited capacity and with it the opportunity to access some of the
greatest investment talent.
"The Argentum Fund comprises the cream of the crop in terms
of hedge funds managers. Their superior skills have allowed
positive returns in even the most hostile markets, making them some
of the most sought after funds in the market. It is for this reason
that most have not been open to new investors for several years, so
we are understandably delighted to be able to offer these managers
to our investors. Simply put, this is a unique, once-in-a-cycle
opportunity to gain access to the very best talent that the hedge
fund industry has to offer.
"The track record of these managers, particularly their
cash-plus performance during 2008, proves their ability to produce
positive returns in turbulent markets. Moreover, their reputation
as alpha-generators means that returns will be greatly enhanced
when the market uplift occurs."
Corazon Capital has over US$1 billion of assets under management
in discretionary portfolios, institutional mandates and
multi-strategy funds of funds.
It has offices in both the Channel Islands and Geneva.
Corazon Capital represents the management buy-out of Dawnay Day
Milroy Limited. This transaction was completed in July 2008.
Corazon has received a number of accolades in recent months
including "Best Product Provider" and Hedge Funds World
Middle East Awards and several nominations at the European Pensions
Funds Awards. Corazon has $1.2bn of client assets with personnel in
Guernsey, Jersey, Switzerland and the UK.
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