HAMILTON, Bermuda (HedgeWorld.com)–Focus Investment Group will open the offshore Focus Macro Fund on March 1 with US$30 million in seed capital from clients.
The new fund has been in the works for the past six months and will focus on identifying managers who specialize in commodity trading advisers and global macro trading programs. With well-established risk management policies, the Focus Macro Fund will invest in 10 to 15 managers, Brian Briskin, director of portfolio research at Focus, said in a statement.
Bank of Bermuda is the Bermuda-domiciled fund’s administrator. The investment minimum is set at US$500,000, and shares will be offered in euro and U.S. dollar share classes. Focus will charge a 1.5% management fee and a 10% performance fee.
“The fund’s purpose is to offset the more specialized portfolios through negative correlation and further diversification of risk factors,” Mr. Briskin said in a statement. “Focus selects only very few CTA and global macro managers at the top of their game rather than their traditional approach of investing early on.”
Working to establish a global presence, Focus Group hired a managing director in Asia and changed its name to Focus Investment Group in January (Previous HedgeWorld Story). Focus has a 10-year history of managing absolute return funds for institutional investors, private banks and family offices worldwide. The firm now manages US$1.1 billion in assets.