NEW YORK (HedgeWorld.com)–Refco Alternative Investments LLC and Abbey Capital Ltd. together will develop and market several multi-manager managed futures funds for institutional investors, officials at both companies said Thursday.
The two firms will work together to build managed futures funds of funds that combine investments in various markets and that use different strategies in order to offer better diversification and performance.
Abbey Capital, Dublin, Ireland, will select the managers for the multi-manager portfolios and perform risk management. An independent administrator will price the funds daily. Refco Alternative Investments will distribute the funds to institutional investors.
Officials at Refco Alternative Investments and Abbey Capital did not discuss the pricing structure of the new funds, other than to say it would be “very competitive.”