Norshield Financial Group, the hedge fund-of-funds manager, has launched the Univest Global Fund. The Cayman Islands-exempted company, listed on the Irish Stock Exchange, began trading on 1 July with assets of US$132 million. The assets are diversified amongst eight strategies and invested with 17 managers, with more to be added in the future.
Norshield says the fund has a “unique” structure, which enables clients to customise their exposure to various alternative investment strategies through investments in the affiliated funds, which have individually managed accounts with the portfolio managers.
“Our goal was to launch a global flagship fund that differentiated itself by emphasising customisation and transparency and would cater to the institutional market,” says John Xanthoudakis, Chairman of the Norshield Financial Group. “The level of assets that the fund already has managed to attract is an excellent first step towards achieving this objective.”
The fund is the first of several new funds that Norshield intends to launch over the coming months.