UK – London based alternative investment specialist, Global Investment Advisers (GIA), has launched a multi-strategy tracker fund of hedge funds into the UK market.

The new fund, the GAIM Hedge Fund (GAIM) will be passively managed and incorporated in the British Virgin Islands, with investments in up to 20 hedge funds, allocated to the five largest funds by asset size in four main strategies : macro; market neutral; long short equity; event driven.

This way investors gain exposure to the hedge fund industry through a diversified portfolio of leading hedge funds whilst all the time maintaining risk exposure in one single investment strategy.

Minimum investment into the fund is set at $10,000 (€10,965), a greatly reduced amount from the industry norm of $250,000.

There will be second share class, Class B, which will be listed on the Dublin stock exchange, with a minimum investment amount of $100,000, as well as GAIM linked capital protected notes, marketed by GIA and guaranteed by Lehman Brothers, offering investors 100% capital protection.