MONTREAL (HedgeWorld.com)–Norshield Financial Group launched a new fund of funds on July 1 that is listed on the Irish Stock Exchange.
The Univest Global Fund Ltd. is a Cayman Islands exempted company that started trading with US$132 million and is the first of several new funds that Norshield plans to launch over the coming months. The offering is diversified among eight hedge fund strategies and invests with 17 managers with more to be added in the future.
The fund’s structure is unique in that it lets clients customize their exposure to different alternative investment strategies through investments in the affiliated funds that have individually managed accounts with portfolio managers. The managed account structure allows the investment manager, Norshield Investment Partners, to provide active daily risk management for each client.
The firm’s goal was to launch a global flagship fund that emphasized customization and transparency, catering to the institutional market. The decade-old company manages an offshore multi-strategy and a multi-manager hedge fund, Univest Ltd. Norshield traditionally has offered its funds to institutional investors and has allowed its funds to be offered by financial institutions. The most recent such deal was earlier this year, when Canadian insurance company National Life offered a capital guaranteed fund based off of the returns of the Univest fund of funds Previous HedgeWorld Story.
Last month, Norshield announced it was offering finance students at University of Toronto and University of Western Ontario scholarships as a way to contribute to the development of the alternative investment field in Canada Previous HedgeWorld Story.