Investec Private Bank Offers Fund Of Hedge Funds

by Carla Johnson, Investors Offshore.com

04 August 2003

Investec Private Bank announced last week that in conjunction with fund house, HFR, it is offering access to the Nova Alpha fund of hedge funds until August 29.

Investec PB revealed that through active management and strategy diversification, using a minimum of 20 managers each with a maximum allocation of 8%, the fund aims to provide consistent long term target returns of 4-8% with a low correlation to traditional asset classes.

Minimum investment in the Bermuda-based fund is $100,000, and access can be obtained via direct, capital protected, or leveraged exposure. The latter offers no capital protection, and will likely only be available to more sophisticated investors.

Speaking following the launch of the fund, Kim Hillier, Chief Investment Officer, Investec Private Bank, commented:

'We are delighted to add the Nova Alpha offering to our range of alternative investments as we continue to develop innovative products for our clients. Again we have shown how our approach can bring products that are normally only available to institutions to the private investor.'

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