Key Gamma Fund is number seven for Key Asset

Key Asset Management has launched its seventh fund of hedge funds designed to achieve returns of above 20% pa.

The Key Gamma fund is invested equally across five primarily long/short equity managers.

Thomas Raber, managing director at Key Asset Management said: 'We are investing primarily in long/short equity driven by two things: the correlation between the funds. Also we are looking for volatility between eight and 10, which is higher than our other funds.'

The fund was set up in response to cl