Lyxor Asset Management has rolled out two new managed accounts funds that are compliant with the alternative investment fund managers directive (AIFMD).
Known as Lyxor Diversified Fund (LDF) and the Lyxor Focus Fund, both the funds will invest across the hedge funds of Lyxor’s managed account platform (MAP).
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Structured as liquid, multi-strategy funds, LDF and Focus fund will invest in between 15 and 25 Lyxor managed accounts across a range of hedge fund strategies and are now pass ported for marketing to professional investors in 10 countries.
LDF aims to target returns of LIBOR plus 5% p.a. and Focus manages a high-conviction portfolio with a performance objective of LIBOR plus 7% p.a.
The funds will charge a management fee of 0.50% p.a. and a performance fee of 5% over LIBOR.
Jean-Marc Stenger, CIO for alternative investments at Lyxor, said: "As markets normalize, the outlook for directional strategies is increasingly uncertain and the consensus is that talented hedge fund managers stand to deliver significant alpha in 2014 and beyond."
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