First fund from Leopold Joseph

Leopold Joseph, the London-based private bank, has launched its first fund of hedge funds, aimed at the bank's private clients. The Leopold Joseph Multi-Manager Hedge Fund will initially invest in the Alpha Strategic Investment fund, whose manager, Alpha Investment Management, is the adviser to the new fund. The minimum investment is $50,000 and the fund will close either when a total of $10m has been reached or by 1 January 2001, whichever is sooner.

There is an initial charge of 3% and an a