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Bedrock launches multi-strategy FoHFs investing solely in Brazil

Monday, March 01, 2010
Opalesque Industry Update - Bedrock Group, the Geneva-based wealth and asset manager, this week launches Bedrock Brazil with $50m of commitments. The Fund is a multi strategy fund of hedge funds offering investors unique low cost access to leading Brazilian funds – some of which are closed to new investors.

The Fund will be advised by Bedrock Advisors working in partnership with one of Brazil’s leading asset and wealth managers, JGP, who will provide local support and market access. Bedrock brings to the table its own investment philosophy and process resulting from years of experience in asset management, proprietary trading and allocating to, as well as managing, its own stable of hedge funds and fund of hedge funds.

The Fund’s objectives are to allow investors seeking long term capital growth the opportunity to participate in Brazilian markets and to achieve excellent risk-adjusted returns by minimising the correlation among investments in the portfolio. It will achieve this through the expertise and deep local knowledge of JGP Wealth Management, combined with a disciplined investment process and rigorous risk management procedures.

Bedrock Brazil’s five main strategies consist of Macro, Equity Long-Short/ Long Bias, Equity Long Only and Multi Strategy. A pro-forma model of the Fund since July 2006 suggests performance and ahead of key equity market and hedge fund indices. It generates these returns with volatility levels far lower than equity markets and largely in line with hedge fund indices.

Daniel Page, MD of Business Development at Bedrock RealTime SA, comments on the case for investing in Brazil:

“The case for investing in Brazil is a clear and compelling one. Brazil withstood well the adverse impacts of the global credit crunch and the sudden fall in commodity prices and demand for exports. Structural soundness and anti-cyclical policies softened the impact of a global recession, allowing Brazil to benefit from improved economic, financial and fiscal positions versus developed economies and suggesting further room for continued growth. The Manager predicts that the lagged impacts of fiscal and monetary stimuli are pushing Brazil further into a strong cyclical recovery and that 2010 GDP growth could exceed 5%. We have seen strong pre launch interest and are proud to welcome Bedrock Brazil Fund to our platform.


Fund Manager: Bedrock (GCI) Ltd
Investment Advisor: Bedrock Advisors SA
Investment Sub-Advisor: JGP Wealth Management
Main Fund strategies: Macro, Equity Long-Short/Long Bias, Equity Long Only, Multi- Strategy
Target return: 10%-15%
Initial strategy allocation: Macro 50%; Equity Long-Short/Long Bias 40%, Event Driven 10%
Currency: USD, Euro
Min Investment: (Class P): USD 100,000, or Euro equivalent for Euro class
Min Investment (Class I): USD 1,000,000 or Euro equivalent for Euro class
Fees (Class P): 1.75% pa and 10% performance fee (high water mark)
Fees (Class I): 1.25% pa and 10% performance fee (high water mark)
Subscriptions: Monthly
Redemptions: Quarterly with 46 days notice and no penalty, or, optionally, monthly with 35 days notice with 3% penalty
Lock up: None
Gate: 25% of the share class for any redemption date
Domicile: Cayman Islands
Adminstrator: Citco Fund Services
Custodian: Citco Bank NV Nederlands

Corporate website: www.bedrockgroup.co.uk

- FG

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