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December 22, 2003 at 07:00 PM
HAMILTON, Bermuda (HedgeWorld.com)–Focus Investment Group plans to launch its second issue of the Focus Principal Protected Opportunity Notes with Barclays Bank PLC once again providing a guarantee for the offering.
Officials hope to raise US$50 million in this second series of notes after Focus’ first series closed on Dec. 1 . With mainly European investors in that first series of notes, officials expected to gather US$50 million, but officials declined to disclose the final amount.
Like the Series 1 notes, this offering will invest in multiple strategies, including global macro, commodity trading advisers, long/short equity, distressed and convertible arbitrage. The underlying vehicle is the Focus Opportunity Fund, which targets annualized returns of 9% to 12%, net of all fees with a volatility of 7% to 9% over the medium term.
