Convergence Capital Management Group, a US-based hedge fund manager, has launched its absolute return diversified multi-strategy fund, Convergence Capital Partners Fund I, to qualified investors.
The Fund, which was launched in May 2013, will be managed by Richard Hawkins and Alexander Olson, reported HedgeCo.Net.
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Targeting an annual net return of 12%, the fund seeks to preserve capital and offer investors the advantage of an uncorrelated, stable return stream.
In addition, the fund benefits from structural inefficiencies and behavioral mispricing in the stock and stock option markets.
Richard Hawkins, co-founder and fund manager, said: "By focusing on the options market, the fund offers investors access to a unique asset class. We feel the fund will appeal to both institutional and individual investors alike, and should be a core holding to further diversify their portfolios."
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