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From Sagar Chakraverty, Opalesque Asia:
According to an announcement sent to investors on Friday, Swiss alternative investment firm Swiss Alpha GmbH is broadening its fund offerings with a Luxembourg-registered Fund. The Swiss Alpha SICAV - Strategy Europe fund, which is a UCITS III compliant version of the firm’s Cayman-registered Alpha Strategies Fund (ASF), was launched in Nov-09, and gained distribution approval in Germany in Dec-09.
Its launch was first announced in Aug-09 but there were certain delays due to the regulatory approval process, Werner Schuenemann, the head of business development at Swiss Alpha, told Opalesque this morning.
This decision has been backed by growing investor demand for transparency and liquidity, especially from UK investors.
ASF is up 2.28% YTD, was down 5.59% in 2009 and up 11.08% in 2008. The new UCITS-compliant fund manages €2.5m ($3.4m) so far whereas the AUM for ASF is €28m ($38m). The firm’s total AUM is $120m.
Schuenemann believes that the setup of the fund under the regime of UCITS III would open up insurance markets in Austria, Germany and Switzerland and therefore, help to broaden the international visibility of Swiss Alpha (see here).
A SICAV fund is a type of open-ended investment fund where the amount of capital in the fund varies according to the number of investors. Shares in the fund are bought and sold based...................... To view our full article Click here
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