Zurich International Life has added two HSBC Republic funds of hedge funds to its product range, which aim to tap into the performance of equities without the associated volatility.
The funds are to be based in Guernsey and will be run by HSBC Republic Investments who will invest across a variety of different hedge funds and strategies.
The Zurich International European Absolute Fund will invest mainly in European hedge funds and use the MCSI Europe Total Return Indices and Euro 3 month LIBOR in equal parts as a benchmark.
Meanwhile, the Zurich International Global Absolute Fund will use as its benchmark the US Dollar 3 month LIBOR and the MSCI World Return Indices, investing on a global basis.
“The new funds allow investors access to hedge funds without the risks associated with some single strategy funds,” observed Mark Goodman, distribution director at Zurich International. “The two funds fit in our range between traditional equity and bond funds and we expect investors will use these funds to reduce their volatility whilst remaining invested in real assets.”
The minimum investments will range from £100 per month for Zurich’s regular premium products to £40,000 for its International Wealth Account, and management fees will range from 1.5% to 1.7%.
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