Libero Development Fund, a hedge fund launched by Mary Murphy who helped to establish International Fund Services before its acquisition by State Street, is now open to specialist investors.
Prior to the soft launch of the fund late last year, its proprietary investment strategy was only available to closed private funds with circa EUR300 million under management.
To the end of July 2016, the Libero Development Fund has achieved a YTD return of 5.07 per cent and is up 2.35 per cent since inception of the A share class in October 2015.
Murphy (pictured) says: “It has taken a period of adjustment to move, after 20 years, from the administration side of the hedge fund industry to actually establishing a hedge fund. Having seen enough investment strategies over the years, I truly feel that in the current investment climate, there is a real need for our unique investment strategy and offering.
“While we have spent the last year in a soft launch phase, we now know the strategy performs.”
The investment objective of Libero Development Fund is to achieve a return of 12 per cent net per annum for investors through private placement, European Medium Term Notes (EMTN), bonds and structured notes. All of the securities are rated investment grade or better. The buyers, for securities held within the fund, are global institutions (family offices, hedge funds and private banks), who are seeking consistently higher returns than typically available from investment grade risk investments.
Iain Cahill, chief investment officer, Libero Development Fund, says: “When Mary and I began to look at the investment landscape over three years ago, our combined objective was to create a fund that could generate strong returns, had low volatility and little or no market correlation. While this was not the easiest task to set ourselves, Libero Development Fund is achieving all of our objectives.”