The group has been invested in global macro hedge funds since the 1980s and Stenham Trading has achieved an annualised return of 9.07% since inception in 1993 compared to its benchmark’s return of 6.51% over the same period.
Stenham said the new fund aims to invest in similar types of macro managers, but within a portfolio that allows a greater amount of liquidity.
The liquidity of the underlying fund will allow Stenham to offer monthly liquidity with 35 days’ notice, as opposed to 95 days’ notice for Stenham Trading.
The fund will be a concentrated portfolio of around 15 managers with a target of Libor plus 5% to 6% and low volatility.
It is domiciled in Guernsey, but available to investors globally.
Minimum investment period in the fund will be $25,000 with no lock-up period. It has launched with $36m seed money and is available in dollar, sterling and euro share classes.
