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Benedicte Gravrand, Opalesque Geneva:
March Gestión de Fondos (MGF), the investment boutique of Banca March, an independent Spanish bank, has launched a new hedge fund, according to reports from Agefi and Funds People.
It is a second version of an already existing fund called March Patrimonio Renta FIL. Also regulated in Spain, the new fund is called March Patrimonio Renta 2, FIL. It was created on 17th May and registered in Spain on 22nd June, 2012.
According to March Gestión’s website, March Patrimonio Renta invests primarily in demand deposits or falling due within one year to credit institutions of the EU or OCDE countries subject to prudential supervision, and in listed and unlisted liquid money market instruments. However, if the market conditions make it appropriate, the fund may be invested in other public and private debt financial assets. The return benchmark is 12-month Euribor rate plus 0.5%. The minimum subscription is Eur100,000 and the management fee is 0.6%.
The first fund reached Eur64m in AuM according to recent data from Inverco (end-May). Among its many funds, March Gestión has three hedge funds (fondos de inversión libr...................... To view our full article Click here
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