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Julius Baer launches hedge fund

EUROPE - Julius Baer Asset Management in Zurich has launched its first single manager hedge fund, which will be marketed in Switzerland, Germany, Italy and the UK.

The target return for the fund, Multi-Strategy Fund, is LIBOR + 5-8% over any 12-month period and the fund manager is Kostas Iordanidis.

The firm said the novel aspect of this fund under Swiss law is its unique combination of features that opens up a wide range of investment opportunities while also offering the advantages of a traditional fund product.

It has an “active, opportunistic and global approach with broad diversification opportunities in all asset classes (including commodities and hedge funds)”.

“Following the Absolute Return Bond Fund and the ABS Fund, this attractive new product represents a further addition to Julius Baer's Absolute Return range of funds.

“Another new fund, focusing primarily on alternative investments, is also scheduled for launch before the end of the year.”

The firm says its aim is for the Switzerland-domiciled fund to “generate positive absolute returns regardless of the market direction, while at the same time seeking the lowest possible correlation to the stock and bond markets”.

“The fund can invest in all asset classes within defined ranges. The portfolio focuses on equities, investment-grade bonds and currencies, tactically supplemented with high-yield bonds, real estate, hedge funds, commodities and money market investments.”

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