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Alternative Market Briefing

Bernheim, Dreyfus & Co. launches global macro UCITS fund with $60m seed capital

Tuesday, July 16, 2013

Amit Shabi
Benedicte Gravrand, Opalesque Geneva:

Bernheim, Dreyfus & Co., an asset manager based in Paris that runs absolute return strategy funds and managed accounts, has just launched a global macro UCITS IV-compliant fund called Carmel Global Opportunities. This new fund invests in multiple asset classes across the OECD universe, and aims to deliver steady long-term capital appreciation through diversification of investment style, alpha source and time horizon.

Carmel Global Opportunities’ assets under management at launch stand at approximately $60m. The seed investment comes from some of Bernheim, Dreyfus & Co.'s long term investors.

Amit Shabi and Lionel Melka, cofounders of Bernheim, Dreyfus & Co. , told Opalesque that this fund will be invested in mainly two asset classes, namely credit instruments and equity instruments within Europe and North America. The fund’s tactical trading strategy will consist in capturing all available opportunities depending on market conditions. Investments will be long-only.

In the mid-term, the fund will invest in equities in the U.S. to benefit from growth opportunities in the country, as the economy is improving. In Europe, the managers believe opportunities are on the credit side, as interest rates will probably stay low for qui......................

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