New Star Asset Management is making a second offering of Hedge ETS, a London listed daily tradable security, providing access to performance representative of the hedge fund asset class through investment exposure to the RBC Hedge 250 Index.
The initial offering in November 2006attracted investors from 20 different countries, in particular Spain, Switzerland, the UK and various offshore jurisdictions, and raised USD150 million.
The Index is designed to be a representative, investable benchmark of the performance of the hedge fund asset class.
“Hedge ETS offers unique access to the performance of the hedge fund asset class through a well constructed index with the added benefit of daily liquidity,” says Ravi Anand, a director at New Star Asset Management. “We believe that Hedge ETS is the most representative investable benchmark for hedge fund industry returns and this second offering is in response to strong demand from investors. As with the initial offer we expect interest from institutional investors and wealth managers seeking to benefit from the portfolio diversification benefits provided by hedge fund returns.”