First guaranteed fund by Asset Alliance

The eight funds, three from Europe and five in North America, represent a diversified range of managers working in the long/short equity; merger/convertible bond arbitrage; currency and equity-linked arbitrage styles.

Michael Azlen, managing director of Asset Alliance, said the fund of funds has already raised E190m ($171m) and that they hoped to raise E300m Euros this year. The product is being sold to European institutions, including banks, insurance companies and pension funds. Azlen confi