AVENTURA, Fla. (HedgeWorld.com)–Magnum Asset Management established a joint venture with Masters Research Partners LLC in order to tap into the U.S. taxable high-net-worth investor market.
Magnum now will co-manage Masters Research Partners LP, a US$20 million fund of funds based in Boca Raton, Fla. The fund, which launched in August 2000, targets U.S. high-net-worth investors as well as institutional investors.
Designed to achieve positive returns in both bull and bear markets, the fund is invested in eight funds across a variety of strategies including long/short equity, relative value, event-driven and market-neutral strategies.