'A truly global hedge fund' says FMG

US-based FMG Fund Managers launched the FMG Global Hedge Fund on 1 January.

The fund of funds is a revamp of the firm's oldest product, the FMG Global Fund, which was a mixture of both long-only and hedge fund managers.

Since 1 January, the fund has raised US$1m to add to the US$13m of assets shifted in from the old Global Fund.

The new entity will only invest in hedge funds in three areas: global multi-strategy (comprising 40% of the portfolio); US long/short equity funds (30%) and European long