RYE, N.Y. (HedgeWorld.com)--The American Masters Market Neutral Fund Ltd. and the American Masters Opportunity Fund Ltd. will now go by the Tremont brand name, Tremont Advisers Inc.* announced on Oct. 3.
The renaming of offshore funds of funds will allow officials to take advantage of the recognition of the Tremont name. "We expect to see strong growth in alternative assets from offshore investors in the months ahead," Rupert Allan, managing director of Tremont TASS (Europe) Ltd., said in a statement.
The Tremont Market Neutral Fund Ltd. offers long-term capital growth irrespective of stock market volatility or direction in its investment objective. Launched in August 2001, the fund was designed to invest in different funds than its U.S. counterpart that was formed in September 1998. (Previous HedgeWorld Story) Tremont also announced that the market neutral fund of funds would add a sterling share class. Mr. Allan said the new share class is being created to reflect increased investor demand for the fund.
The Tremont Opportunity Fund Ltd. seeks risk and return levels with low volatility and low correlation to traditional markets in its strategy. Both funds have a minimum investment of US$100,000.
Tremont, which was acquired by Oppenheimer Acquisition Corp., advises on more than US$8 billion in alternative investments including more than US$1.5 billion in proprietary products.
* Tremont Advisers Inc., Rye, N.Y., which is a minority investor in and strategic partner with HedgeWorld.