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From the Opalesque team:
Lyxor Asset Management, head-quartered in Paris, has expanded its managed account platform with best-in-class hedge funds as part of its continuing diversification of its investment universe.
The five new managed accounts launched in Nov-09 are:
- Caxton’s Pyrander Equity Growth Fund Ltd (L/S equity fund with a long bias and focus on the US);
- Ecofin’s Global Utilities Hedge Fund Ltd (L/S equity fund with a variable bias, a sector specialist);
- NewSmith UK Hedge Fund, Ltd (L/S equity fund with a variable bias and focus on the UK);
- Lynx Asset Management AB’s Lynx Fund Ltd (CTA, a medium term trend follower);
- Rhicon Currency Management’s Rhicon Fund Ltd (a currency trading fund with a discretionary strategy).
With more than $10bn in assets under management, the platform is the largest by all metrics, the firm said in a statement yesterday.
The platform was launched in 1998. According to the firm’s new book (“Lyxor, 10 years asset management company,” 2008), “In 1998, DEAI wanted to raise hedge fund options. To launch a new area of expertise within the group, you have to present it to a ‘new products’ committee. It was just at the time when the big hedge fund LTCM had failed spectacularly, requiring all the central banks to intervene”. The Risks Department refused.
Lyxor then decided to create a completely transparent hedge fund platform. Seeing the plan, the Risks Department therefore had no option b...................... To view our full article Click here
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