ANTS seed capital goes to Spyre fund

Abbey National Treasury Services (ANTS) is allocating up to $400m in seed capital to a fund of hedge funds being offered from a new division of Abbey National plc.

Spyre Asset Management will launch its first fund, the Spyre Diversified fund on 26 February, followed by another three or four over the next six to nine months. Abbey National has refused to comment on the specifics of the launches at this time.

Chief investment officer of the new fund of funds company within the Abbey group is John H