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January 13, 2003 at 07:00 PM
JERSEY, Channel Islands (HedgeWorld.com)–Liberty Ermitage Group unveiled the Liberty Ermitage Global Strategy Fund, a multi-strategy hedge fund of funds with estimated commitments of roughly US$50 million.
The fund will include directional and spread-based strategies such as global macro, futures trading and arbitrage approaches, according to a company statement. The managers will aim for returns that are 8% to 12% over cash. Fund managers expect assets to reach US$100 million based on demand for this type of product, which was designed to invest amid volatile equity markets.
The fund charges a 1.5% annual management fee and a 10% performance fee. Minimum investments are set at US$100,000 in British pounds, euros, Swedish kronor, and Nordic kroner. The fund is domiciled in Luxembourg.
