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Benedicte Gravrand, Geneva: Why should you invest in a FoHFs? What are the recent developments in the FoHFs space? What makes a fund of hedge funds successful? These topics are explored in our Monday series on funds of hedge funds.
The Miles/MAXAM Deep Value Managers Fund, Ltd. is a single strategy, multi-manager fund of funds focused on investing in deep value and activist managers. The fund allows investors to participate in the PE style investing without the lock-ups and the prohibitively large entry sums. The fund invests in around 15 funds (most are closed to outside investments), the majority of which feature in the media regularly. The fund was launched in September 2006 and has returned 9.98% YTD to October’ 07 and 15.03% YTD in 2006 (average monthly return of 1.15%). It started with $1bln under management and now has about $2.6bln.
The fund is co-managed by Sandra Manzke, CEO of CT-based Maxam Capital Management, who used her connections in the industry to launch the fund, and Reid Miles, CEO of New York-based Miles Howland & Co.
Marketing in Germany: the prospects
Klemens Höppner, of Frankfurt-based Convexity, has partnered with Mrs. Manzke and Mr. Miles to launch a certificate of the fund for distribution in Germany (and potentially other European countries).
Opalesque asked Mr. Höppner about the potential difficulties he may face due to the reputation of such funds in German...................... To view our full article Click here
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