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Alternative Market Briefing

Reech Aim to launch UCITS version of Iceberg Real Estate Hedge Fund

Monday, August 02, 2010

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From the Opalesque team: Opalesque has learned that Reech Aim Partners LLP just got the approval by the CSSF - Luxembourg Regulators - to launch a UCITS III onshore version of the Iceberg Real Estate Hedge Fund.

The firm is following a general trend amongst hedge funders, as indeed it seems that most are launching onshore, mutual fund-like versions of their riskier and less regulated offshore funds. This is happening ahead of impending tougher European Union regulations, which should normally not affect the UCITS structure.

"Glacier" will launch mid-September, co-sponsored by Pictet. The fund will have a global mandate, but initially focus on Europe during the launch phase. Similar investment strategies as that of Iceberg's (REITS, IPD swaps etc.) will be used, as well as some more directional new strategies.

Christophe Reech has been the founder, the chairman and CEO of Reech Aim Group, which is head-quartered in Luxembourg, since 2006. His firm runs several funds:

- Iceberg: is up 0.43% YTD, returned +19.21% in 2009, +5.96% in 2008, +24.04% in 2007. Iceberg is a relative value European commercial real estate focused investment strategy, managing $202m and launched in May-2007.

- Rochester (CTA): up 3.81% YTD, and returned -15.82% in 2009, +41.13% in 2008. Rochester only trades exchange traded futures contracts and was launched in 2002.

According to Reech Aimís website......................

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