BNY Mellon Asset Management subsidiary EACM Advisors LLC, has been selected by Spanish fund management company InverCaixa to develop its first fund of hedge funds proposition.
Working with Invercaixa, the fund management arm for Spanish banking group La Caixa, EACM has developed the FonCaixa Gestion Alternativa V6 fund of funds, an actively managed targeted return fund that aims to deliver returns through all market conditions. US-based EACM focuses on hedge fund and long-only investment strategies where it believes inefficiencies create opportunity.
“We are thrilled to have been given the opportunity to collaborate with an institution of Invercaixa’s calibre on their first fund of hedge funds offering. We have a long history of creating and managing superior fund of hedge funds vehicles. We look forward to bringing this experience to bear in this new offering, and partnering with Invercaixa to make its entry into this arena a success,” says William C. Crerend, chief executive, EACM Advisors LLC.
“There is increasing investor appetite in Spain for absolute return fund of funds vehicles that are uncorrelated to the markets and offer controlled volatility. We are confident that the strong demand we have seen so far for this type of product from both Spanish institutions and private clients is set to continue,” adds Sasha Evers, managing director, BNY Mellon Asset Management in Spain.