Harcourt, the alternative investment brand of Vontobel Asset Management, has launched the Harcourt Alternative Leaders Fund, a strategy- focused fund of hedge funds strategy, in a SICAV-SIF format.
The strategy was previously available in mandate format only. It will now provide access to a cost-efficient and diversified alternative investment product.
The Luxembourg-domiciled fund will have an annual management fee of 0.25% and be available only to institutional investors.
The fund, which will be managed by Harcourt portfolio manager Ilario Scasascia, has been designed to achieve a steady outperformance to the Eurekahedge Index.
Harcourt said that the fund will use the expertise and investment capabilities of its hedge-fund solutions & advisory team, which has over 17 years of experience building and managing hedge fund portfolios for institutional clients.
The fund aims to enhance the risk-return profile of a balanced portfolio through diversification effects. It is based on a successful managed account which was launched in November 2000.
Commenting on the launch Scasascia said: "Given the continued importance of macroeconomic drivers, especially central bank policy, as well as the ongoing low-yield environment, an exposure to selected strategy-specific funds of hedge funds is crucial to reduce the overall portfolio risk, while generating stable returns."