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Banque SYZ: Six New Funds of Hedge Funds Launched
Geneva (ots) -
- New funds focus on Asia and thematic investment - Asian hedge funds manage approximately USD150bn in AUM - Importance of strategy selection has markedly increased
3A SA (Alternative Asset Advisors), the hedge-fund management division of Swiss banking group SYZ & CO, announces today the launch of six new sub funds of the Alternative Capital Enhancement SICAV, 3A's Luxembourg-based USD 1.3 bn fund of hedge funds SICAV. The new sub funds represent two different strategies, ACE Asia Fund and ACE Opportunity Fund, while they are both available in USD, EUR and CHF. Like all other ACE sub funds, these new funds are authorised for distribution in Switzerland as "funds presenting special risks"(1).
ACE Asia Fund
Through a diversified portfolio of Asian hedge funds, the ACE Asia Fund provides access to the spectacular growth rates achieved by the world's most dynamic economies. Indeed, China has become the world's leading producer and consumer, followed by India in second position. Other countries in South East Asia have also been benefiting from steeply rising demand across the Asian continent. The resulting investment opportunities have meant that the alternative investment industry has grown strongly in Asia, where approximately 1,200 hedge funds manage approximately USD 150bn in assets.
In addition to their performance potential, these countries offer a welcome source of diversification away from the North American and European markets. Investing in this region via hedge funds is all the more interesting as, promising though they may be in the long term, these markets remain particularly volatile. For investors wishing to gain exposure to this region, the downward protection offered by alternative strategies with their absolute-performance objectives represents an undeniable advantage.
The ACE Asia Fund was established on 1 June 2007, before receiving authorisation for distribution in Switzerland at the end of 2007. It is now publicly available, like all other sub funds of Alternative Capital Enhancement, as a "fund with special risks".
ACE Opportunity Fund
The ACE Opportunity Fund aims to generate returns above the average yield of multi-strategy funds through a portfolio combining opportunistic hedge funds with managers focusing on what 3A believes are the most promising investment themes in the short to medium term. Hence, the ACE Opportunity Fund is able to achieve higher returns than a conventional multi-strategy fund, albeit accompanied by somewhat higher volatility. The ACE Opportunity Fund should therefore be considered as a complement to an existing portfolio of hedge funds.
This more opportunistic investment strategy is justified by the fact that alternative strategies have become more cyclical than in the past. This has resulted in widening performance disparities between strategies. In fact, the return differential between the most successful and least successful strategies since 2001 has varied between 15% and 60% per annum. The importance of privileging winning strategies has therefore markedly increased.
Currently, the ACE Opportunity Fund focuses on a number of investment themes and is invested in 17 hedge funds representing various distinct strategies: US economic slowdown (Macro), rising default rate (Credit), Russia / Technology / Gold (Long/Short Equity), increased volatility in Asia (Long Volatility), and opportunistic managers.
The ACE Opportunity Fund was launched on 1 December 2007 and is authorised for distribution in Switzerland, where it is, like all other sub funds of Alternative Capital Enhancement, accessible to the public as a "fund with special risks".
Both new strategies are available in three reference currencies (USD, EUR and CHF) as well as in three distinct share classes. All six sub funds are open for subscription and redemption on a monthly basis.
Class A Class B Class C
(all currencies) 1'000 10'000 5'000'000
Annual Management Fee 1.5% 1.5% 1.0%
Performance Fee 7.5% 7.5% 7.5%
Note to Editors
About 3A SA
3A SA (Alternative Asset Advisors) is the alternative management division of the SYZ & CO Group and has established itself as one of Europe's leading specialists in the field. 3A manages several funds of hedge funds, including ALTIN AG, an investment company listed in Zurich and London, and Alternative Capital Enhancement, a Luxembourg-based multi-segment SICAV comprising single- as well as multi-strategy funds and registered in Switzerland as an "investment fund presenting particular risks". By means of a rigorous analysis and due-diligence process, 3A selects the world's best hedge funds to construct made-to-measure multi-manager portfolios, funds of hedge funds or structured products. In addition, 3A manages several high-performing alternative products specifically designed for institutional investors.
As at the end of December 2007, total assets under management at 3A exceeded USD 4bn.
About Alternative Capital Enhancement
Alternative Capital Enhancement is a multi-compartment Luxembourg-based SICAV as defined in Part II of the Law and is authorised for distribution in Switzerland as "funds presenting special risks". It is managed by 3A SA and includes 20 sub-funds of hedge funds representing various hedge fund strategies (multi-strategy, arbitrage, long/short, macro and natural resources) and available in different reference currencies. ACE totals over USD 1.3bn (CHF 1.5bn) in assets. Alternative Capital Enhancement is represented in Switzerland by Banque SYZ & CO SA.
About SYZ & CO
Geneva-based banking group SYZ & CO exclusively specialises in asset management via three strongly interconnected lines of activity: high-level private banking (Banque SYZ & CO SA), a family of high-performing investment funds (OYSTER Funds) and an acknowledged expertise in alternative investment (3A SA).
The Group manages CHF 31bn in assets and employs 320 staff. In addition to the Bank's Geneva headquarters, the Group is also present in Zurich, Lugano, Locarno, London, Luxembourg, Nassau, Salzburg, Milan, Rome and Hong Kong.
(1) Alternative Capital Enhancement (hereafter "ACE") invests in hedge funds as a "fund of funds". An investment in ACE carries substantial risks. The risks inherent to an investment in hedge funds cannot be compared to those related to traditional investment funds invested in exchange-listed securities. There can be no assurance that ACE's investment objective will be achieved and investment results may vary substantially over time. Investors incur the risk of losing all or part of their investment in ACE. Prospective investors should carefully consider whether an investment in fund units of ACE is suitable for them in the light of their personal circumstances and financial resources (see the section captioned "Risk Factors" below). The Board of Directors will, however, endeavour to monitor risks through the selection of ACE's investments based on a due-diligence process (see the section captioned "Investment Strategy, Objective and Management Process" below). Persons receiving this Special Sales Prospectus for Switzerland are informed that it contains only those funds approved by the Swiss Federal Banking Commission for issue in Switzerland.
ots Originaltext: Banque SYZ & CO SA
Banque SYZ & CO SA