BNP Paribas uses Irish umbrella

BNP Paribas has launched two hedge funds under an Irish umbrella dedicated to single strategy products and plans to launch more strategies as part of the vehicle later in the year including equity market neutral or long short equities.

Single Hedge Currency and SingleHedge US Convertible Arbitrage are being targeted at the company's European based qualified investors. SingleHedge Currency Fund is managed by Overlay Asset Management, a BNP PAM entity dedicated to currency risk management. Overlay