GLC to launch fund of funds

GLC is to launch a fund of funds that will provide access to its closed European hedge fund. The GLC Gestalt Global Fund will be open for business from 1 January 2002 and will allocate 50% to the GLC Gestalt Europe fund and 50% to the GLC Gestalt Asia fund. It will target returns of 25% per annum.

Both the GLC Gestalt Global and Asian funds follow a mean reversion trading model. The funds now employ a proprietary beta-weighted hedging strategy in order to avoid market correlation.

GLC will limit