Liberty Ermitage Launches Anti-Turbulence Fund-Of-Funds

Liberty Ermitage announced today the launch of the Liberty Ermitage Global Strategy Fund, a multi strategy fund of funds investing across both directional and spread based hedge fund strategies. The company says that the fund, which it seeded with proprietary

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Liberty Ermitage announced today the launch of the Liberty Ermitage Global Strategy Fund, a multi-strategy fund of funds investing across both directional and spread-based hedge fund strategies.

The company says that the fund, which it seeded with proprietary capital, has already attracted commitments of approximately $50 million. Liberty Ermitage expects the fund to reach $100 million in a matter of months. “The fund has been carefully designed, with the current stock market turbulence in mind,” it says. “Thus the fund manager will seek an optimal balance across the hedge fund strategy universe and will avoid those strategies and managers that tend only to perform in bull market conditions.”

“Liberty Ermitage is uniquely positioned to manage this fund as we have built a team of hedge fund experts who have very real experience of managing investments in volatile markets,” says Ron Mitchell CEO and CIO. “Indeed, our team comprises several individuals who have had option, credit and arbitrage trading experience in markets such as Emerging Europe and Asia. This team is, therefore, in a strong position to research and discover talented managers who can exploit returns from these very difficult market conditions.

The GlobalStrategy Fund is a limited company, incorporated with variable capital under the laws of the Grand Duchy of Luxembourg and is registered pursuant to Part II of the Luxembourg law of March 30, 1988 on collective investment undertakings. Application has been made to list the fund on the Luxembourg stock exchange. The fund’s institutional share class will charge a 1.5% annual management fee and an incentive fee of 10%. Minimum subscription has been set at $100,000 and there are five currency series: US$, GB, Euro, SEK and NOK.

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