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EIP’s Aleph fund opened to investors


Hong Kong-based asset management firm Enhanced Investment Products has opened its Aleph Fund to investors.

EIP’s Asia (including Japan) multi-strategy, volatility and event driven fund was up 2.43 per cent in October 2009, while the MSCI Far East was down 5.79 per cent.

The Aleph Fund launched at the end of April 2009 with a combined seed investment of USD20m from CLSA, Iveagh Trust and Triple A Partners. Since launch, Triple A Partners has worked alongside EIP to position the Aleph Fund with potential investors.

The fund combines event driven strategies, such as relative value, share class arbitrage and merger arbitrage, with volatility trading and convertible bond arbitrage.

EIP employs four portfolio managers that provide further performance diversification which helps reduce correlation to Asian markets.

The fund has returned 8.72 per cent since inception in April.

Tobias Bland, chief executive of EIP, says: “The fund’s trading style is similar to a proprietary trading desk at an investment bank. Aleph has had a good month with annual performance expected to be in the range of 16 to 18 per cent. This is an exciting new development for EIP and continues the firm’s mission to offer non-correlated Alpha and cost effective beta in the emerging markets, with a strict adherence to risk management.”

The Aleph Fund is the second alternative strategy for EIP. It joins EIP’s Overlay Fund, which has been running for over seven years.

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