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Daniel Penseyres, managing partner at London and Geneva-based Bedrock Alternative Asset management told Opalesque that the Bedrock Dimension Fund was launched on March 3, 2008 with AUM USD 36m. Bedrock is expecting another USD 20m for April 1st NAV.

Background Combining the expertise the managers acquired at both Pictet for Grégoire Haenni and LODH for Daniel Penseyres, Bedrock thought it could create a different fund of hedge funds. In addition to this, Bedrock concluded that 2007 (and early 2008) was an interesting year for the hedge fund industry but an exceptional one to analyze the situations managers were faced during its second half and early part of 2008. Especially those impacted during the dislocations of August and November 2007. The output of Bedrock's analysis and work is now in the form of this new fund. Its risk-return profile provides a compelling investment solution in a cycle of increased volatility, correlations and low interest rates. Given its very low beta, it could be considered as another source of return as well as provide a welcome diversification benefits both at the level of a traditional asset allocation, but also as a complement to directional and pure arbitrage funds of hedge funds.

What is Bedrock Dimension Fund? Bedrock Dimension Fund is probably one of the very few concentrated yet diversified multi-asset class portfolio with an objective to avoid significant and prolonged portfolio losses. ......................

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