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BNP Paribas Launches New Umbrella Fund

by Philip Morton, Investors Offshore.com

16 July 2003

BNP Paribas Asset Management announced last week that it is strengthening its alternative investment offerings with the establishment of an Irish umbrella fund dedicated to its Single Hedge Funds strategies.

The fund manager revealed on Friday that the umbrella fund has been specifically designed for its European-based qualified investors.

Two sub-funds were launched in April of this year - the SingleHedge Currency Fund and the SingleHedge US Convertible Arbitrage Fund. The former is being managed by BNP's dedicated currency risk management entity, Overlay Asset Management.

The SingleHedge US Convertible Arbitrage Fund is managed by CooperNeff Advisors Inc, BNP Paribas' US subsidiary dedicated to quantitative trading strategies.

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