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Prifund Gets FBC Go-Ahead in Switzerland

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GENEVA (–Switzerland’s Federal Banking Authority has given Banque Priv?e Edmond de Rothschild SA permission to market its all-encompassing LCF Edmond de Rothschild Prifund to Swiss investors.

The US$2.5 billion fund includes some 30 sub-funds comprising long-only managers, direct hedge fund investments and funds of funds. In a statement, Banque Priv?e Edmond de Rothschild officials said the Prifund was the first such all-inclusive fund to be approved for distribution in Switzerland.

According to the statement, investors also can get direct access to style-specific funds of hedge funds via several sub-funds that are available separately.

The Prifund Alpha Uncorrelated is an arbitrage fund that seeks investments with low correlation to equity markets, the Prifund Alpha Traders invests in macro strategies and commodity trading advisers, the Prifund Alpha Volatility fund invests in long/short equity managers and the Prifund Alpha Diversified is a combination of all three strategies.

LCF Rothschild Group manages about US$4.5 billion in funds of funds.

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