Lux-based Sicav from Morley

Morley Fund Management has launched a Luxembourg-based fund of hedge funds Sicav and is looking to launch a similar UK-based investment trust later this year.

The Sicav, Aviva Alpha Optimum, was launched at the start of July and has already raised $100m. It is branded Aviva as this is the company's most recognised brand name in Europe. The fund is being managed by US boutique management house Benchmark Plus, and will largely reflect that company's flagship Benchmark Plus Market Neutral fund.