Tue, Jan 24, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Guinness family office Iveagh and 47 Degrees North launch Newcits FoFs

Monday, May 31, 2010
Opalesque Industry Update – Iveagh Private Investment House (“Iveagh”), the Guinness family office and asset manager, and 47 Degrees North Capital Management (“47°N”), the specialist alternative investment provider, announce the launch of the Iveagh Newcits Fund (“the Fund”), a fund that offers investors access to a diversified portfolio of UCITS regulated absolute return strategies (“Newcits” funds).

The Fund builds on the successful track record of investment in UCITS hedge funds by the Iveagh Wealth Fund portfolio managers since the Iveagh Wealth Fund was launched in September 2008. 47°N is an award-winning provider with specialist expertise in selecting and investing in alternative investment strategies.

The Iveagh Newcits Fund will focus solely on absolute return strategies employing a global, multi-strategy portfolio allocation. 47°N, as Sub-advisor for the Fund, selects and recommends the underlying funds based on its fundamental bottom-up research methodology. Iveagh and 47°N construct the portfolio in collaboration maintaining a focus on consistent, stable absolute return potential and diversification, even in turbulent markets.

The Fund aims to produce consistent, low volatility performance largely uncorrelated with traditional markets within a highly liquid and secure UCITS structure. The target return will be 6% to 8% per annum (net of fees and costs) with a managed volatility of between 3% and 5%.

Iveagh is the initial investor in the Fund which is also open to other investors in the UK, Continental Europe and Asia. The Iveagh Newcits Fund is a daily-dealing, Dublin-domiciled fund which is also regulated in the UK. Minimum investment is £50,000, or the currency equivalent (in EUR, USD and CHF). The annual management charge is 1.5%, and the performance fee is 10% over hurdle.

Iveagh Chief Executive Officer, Paul Ross, comments: “Our investment in absolute return UCITS funds goes back to 2008 when we were at the forefront of this paradigm shift in European absolute return investing. The combination of Iveagh’s asset allocation experience with 47°N’s thorough and robust process in specialist alternative investing creates an outstanding opportunity to expand our efforts with this dedicated Newcits fund.”

Mrs Claude Porret, CEO of 47 Degrees North, comments: “We believe that the growth of absolute return strategies within the UCITS structure is creating many opportunities for our particular skills and expertise and that 47N can offer much needed analytical clarity in this fast-growing investment universe. Given ongoing events in the hedge fund industry, investors will value active selection and management of hedge fund risk by a highly experienced and successful team.”


About Iveagh Private Investment House
Iveagh Trustees was established in 1886 by Edward Guinness, Earl of Iveagh, primarily to protect the fortune created from the flotation of the family brewing business. It is one of the world’s first family offices. Iveagh is a London-based private investment house providing investment management and advisory services to wealthy individuals, families and institutional investors, seeking to protect and grow their financial assets with a unique combination of investment experience and expertise. Iveagh entered the retail investment market with the launch of the Iveagh Wealth Fund in September 2008, offering investors the opportunity to share the investment strategy of the Guinness family. The Iveagh Investment Committee includes Cambiz Alikhani, John Ricciardi, Paul Ross and Chris Wyllie. www.iveaghwealth.com.

About 47 Degrees North Capital Management
47 Degrees North Capital Management is an alternative investment management company with presence in Switzerland, London and New York that offers institutional investors specialized fund of hedge funds products. The Company has extensive experience in selecting and investing in emerging managers, innovation themes and other thematic fund of hedge fund products, such as distressed credit and volatility strategies. In 2007, 47 Degrees North was awarded the best newcomer fund of hedge funds in Europe by Hedge Funds Review and again in 2009 for the best performing new fund of hedge funds. 47 Degrees North Capital Management is registered with the SEC. www.47n.com.


Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally, Hedge fund legend David Einhorn is making a big bet on GM, After impressive 85% return in 2016, hedge fund looks to Canadian gold producer, small banks[more]

    This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally From Forbes.com: Can bank stocks continue to rise after a 28% surge in the KBW Bank Index in 2016, fueled by a post-election rally as stock pickers returned to the beaten down sector? Forget the s

  2. SWFs - China sovereign wealth fund CIC plans more U.S. investments[more]

    From Reuters.com: China Investment Corporation (CIC), the country's sovereign wealth fund, is looking to raise alternative investments in the United States due to low returns in public markets, its chairman said on Monday. CIC will boost its investments in private equity and hedge funds as wel

  3. Some hedge funds strong start in 2017 nice contrast to 2016[more]

    With the 2016 HSBC Hedge Weekly performance rankings in the books - a year in which the same leader-board entries pretty much dominated unchallenged throughout the year - comes a new leader board that is a hard-scrabble mix of hedge fund styles and categories. What is clear after but a few short wee

  4. Macro hedge funds and CTAs outperform in December on strong dollar[more]

    Komfie Manalo, Opalesque Asia: The last month of 2016 saw risk assets climbing higher, as part of expectations that the new U.S. administration will remove barriers to growth and investment, Lyxor Asset Management said. December also saw the Fed hik

  5. Opalesque Exclusive: Roxbury credit events UCITS gathers more assets[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The Roxbury Credit Events Fund, launched in September 2015, was up 4.24% in 2016, having returned seven positive months during the year. The managers raised