UK - Gartmore Investment Management has launched the AlphaGen Pictor fund, the fourth equity hedge fund in the AlphaGen series, a non-directional long / short Pacific and global emerging markets fund.
The fund, to be listed on the Irish stock exchange, is an open-ended exempted company incorporated in the Caymen Islands and will be US$ denominated with a minimum investment of $1m (€1.2m).
It will be managed in the same way as the other funds in the AlphaGen range.
AlphaGen Pictor manager, Chris Palmer, says : “The fund will invest in Asia-Pacific (ex-Japan), global emerging markets and in companies with the majority of their turnover or their assets in those regions. We aim to generate absolute performance with low correlation to the underlying markets, with target returns of 15-20% per annum.”