Opalesque Industry Update - Antarctica Asset Management, an alternatives investment advisor has announced the launch on January 1st 2011, of the Antarctica Global Macro Fund Plc (AGMF), the latest addition to its range of fund of hedge funds. Conceived to target present imbalances between global economies, the Antarctica Global Macro Fund Plc addresses a number of current investor concerns surrounding absolute returns and liquidity. Global Macro was one of only two strategies in the HFRI index to post positive returns during the crisis of 2008 and is one of the most liquid hedge fund strategies, allowing AGMF to provide investors with monthly liquidity.|
In anticipation of legislative developments and investor demand the fund is incorporated in Ireland and listed on the Irish Stock Exchange, providing the option of an onshore investment structure for investors. The fund is managed by Antarctica Asset Management (UK) LLP which is authorized and regulated by the Financial Services Authority.
The new fund builds upon Antarctica’s existing line-up of Global Macro managers, creating value through selection and allocation between managers and sub-strategies. Antarctica has been successfully investing in the strategy since 2001, allowing the group to implement its own macro view by maximising the advantageous underlying liquidity to allocate among sub-strategies such as fixed income, commodities, FX and CTAs. In addition, the fund has the ability to maintain a cash buffer and use tail risk protection to moderate any drawdown during a crisis scenario.
Weighting the portfolio allocation among a relatively concentrated target group of 15-20 managers while maintaining diversified exposure across asset classes and styles should ensure the fund performs well in all market environments with an adequate level of protection. Commenting on the launch of the new fund, Pieter de Weerdt, Principal of Antarctica Asset Management said, “We designed the fund to be uncorrelated to risk assets with the ability to dynamically allocate to sub-strategies where we see more opportunities.” “Thematic or directional allocators will typically do well in recovery and bull market periods, while trading platforms and relative value managers should provide anchor returns with low volatility and low correlation to the rest of the portfolio, as well as the wider Global Macro and hedge fund space.”
Transparency is synonymous with Antarctica and remains one of the groups’ distinguishing characteristics, both in terms of reporting and ethos. Antarctica’s progressive client reporting philosophy extends to the Antarctica Global Macro Fund Plc, with all investors receiving access to full transparency on the portfolio as well as portfolio metrics on a monthly basis, ensuring clients are fully informed.