Stenham Asset Management has announced the launch of a Japanese yen share class in its Stenham Multi-Strategy Fund, complementing the existing US dollar, euro and sterling classes.
Stenham Asset Management has announced the launch of a Japanese yen share class in its Stenham Multi-Strategy Fund, complementing the existing US dollar, euro and sterling classes.
The fund is a globally diversified multistrategy fund of hedge funds with around 40 managers, and has a targeted return of Libor plus 5 per cent and annual volatility of less than 4 per cent.
The minimum investment is JPY5m, with monthly liquidity and no lock-up period. The fund’s US dollar share class ended 2007 with a return of 10.8 per cent and volatility of 3.5 per cent. In the six months to February the fund delivered 7.9 per cent in a period of extreme market volatility.
‘The launch of the yen share class is in response to demand from our institutional clients looking to have exposure to this currency,’ says Stenham chief investment officer Kevin Arenson. ‘Over time we expect Asian currencies to revalue against Western currencies and for investors to benefit from this revaluation.’
Harry Wulfsohn, head of institutional business development, adds: ‘Stenham has 20 years of experience constructing diversified fund of hedge funds portfolios that deliver returns uncorrelated to equities. The launch of the yen share class gives the investor an opportunity to diversify their currency exposure and gain access to a Stenham strategy that has a long and award-winning track record.’
Stenham is an independent wealth and asset management group providing financial solutions and products to high net worth private clients and institutions from a network of offices in the UK, the Channel Islands, Switzerland, the Netherlands, South Africa and Israel.
Stenham currently has around USD6.5bn under management, of which USD2.5bn is managed through its multi-manager hedge fund portfolios and USD4bn represents the market value of the properties in which Stenham is invested.
