Antarctica Asset Management launched its latest hedge fund of funds, the Antarctica Global Macro Fund, Andrew Relph, managing director, confirmed in a telephone interview from his office in London.
The new fund of funds, launched on Jan. 1, is in response to institutional investor demand, Mr. Relph said.
The new fund is a stand-alone, concentrated version of the global macro strategy that has been used since 2001 in Antarctica’s two multistrategy hedge funds of funds. The fund invests in 15 to 20 global macro managers diversified by substrategies such as fixed income, commodities, FX and CTAs. Mr. Relph said the fund also offers tail-risk protection during market crises.
“We designed the fund to be uncorrelated … with the ability to dynamically allocate to substrategies where we see more opportunities. Thematic or directional allocators will typically do well in recovery and bull market periods, while trading platforms and relative value managers should provide anchor returns with low volatility and low correlation to the rest of the portfolio,” Pieter de Weerdt, an Antarctic principal, said in a news release.
Antarctica manages $1.6 billion in hedge funds of funds, of which about 70% comes from institutional investors, said Mr. Relph.