JOHANNESBURG – South African financial services firm Alexander Forbes unveiled yesterday a fund-of-hedge-funds (FoHF) joint venture with Peregrine, the country’s largest single-strategy hedge fund manager.
Alexander Forbes Investment Solutions arm, a multi-manager, will launch Caveo Fund Solutions with Peregrine to take advantage of the two institutions’ more than R100 billion in combined assets under management. “Fund of hedge funds blend different hedge fund strategies together and aim to provide a more stable long-term investment return than any of the individual funds,” said David Bacher, previously in charge of hedge fund investments at Investment Solutions, in a statement.-Nampa-Reuters”Fund of hedge funds blend different hedge fund strategies together and aim to provide a more stable long-term investment return than any of the individual funds,” said David Bacher, previously in charge of hedge fund investments at Investment Solutions, in a statement.-Nampa-Reuters
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