LONDON (HedgeWorld.com)–Arundel Partners Ltd. will list shares of two of its funds of funds–the Arundel Premier Fund and the Arundel Fixed Income Fund–on the Irish Stock Exchange.
The purpose of the listing, according to Arundel Partners officials, is to make both funds suitable for Self-Invested Personal Pension accounts, or SIPPs. SIPPs are money purchase agreements that work like traditional pension plans, except individual members or groups of individuals can direct their own investments.
Arundel’s listing of the Premier and Fixed Income funds on the Irish Stock Exchange will allow investment of SIPP assets in those funds. SIPP rules state that investments can be made only in stocks and shares traded on exchanges recognized by Inland Revenue, the U.K. government agency that administers taxes and other financial services.
The Arundel Premier Fund, launched in December 1999, invests in a portfolio of European-based equity hedge fund managers. Arundel Partners officials say it is an alternative to traditional long-only funds. Arundel Fixed Income, launched in December 2002, invests in European fixed-income hedge fund managers, and officials say that like its equity sibling, it offers an alternative to long-only fixed-income funds.
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