1 Jul 2009
Harcourt Investment Consulting AG has launched Belmont (Lux) Recovery, a diversified fund of hedge funds dedicated to credit and distressed assets. The fund is comprised of leading hedge funds engaging in the debt of companies which are stressed, in financial distress, undergoing bankruptcy or major restructurings. The fund’s managers are diversified by geography, style and industry sectors.
The opportunities in the credit and distressed space today are sizeable and abundant. In combination with the fund’s diversification, Belmont (Lux) Recovery aims to offer a stable return profile while keeping correlation to equity and fixed income markets low. The target of Belmont (Lux) Recovery is to achieve consistent annualized returns of Libor+800 bps net of fees, with a Sharpe ratio close to 1.4. Risks are further minimized through careful bottom-up manager selection. The fund will invest in 15-20 managers.
The opportunities in the credit and distressed space today are sizeable and abundant. In combination with the fund’s diversification, Belmont (Lux) Recovery aims to offer a stable return profile while keeping correlation to equity and fixed income markets low. The target of Belmont (Lux) Recovery is to achieve consistent annualized returns of Libor+800 bps net of fees, with a Sharpe ratio close to 1.4. Risks are further minimized through careful bottom-up manager selection. The fund will invest in 15-20 managers.
