Conservative fund unveiled by AMEX

American Express Bank's latest fund of hedge funds is designed to be a lower risk and higher return product aimed at conservative investors.

The Global Market Neutral Conservative Fund of Funds Portfolio is the third fund of hedge funds from American Express Bank and is managed by Sam Perruchoud, senior director of alternative investment and structured products in Geneva. He said: 'The basic idea behind this product was a very conservative fund of funds that would be complementary to short term