Boston Equity fund aims for soft close target of £500m in assets

American Express has plans to expand its hedge fund range to around 12 in the medium-term, providing it can find talented managers.

The group has recently added to its existing range ' which includes US market neutral, US quantitative, European long short, European market neutral and convertible arbitrage ' with the launch of a US long/short portfolio.

The Boston Equity Fund, for example, was launched in September with $25m seed capital from Amex and $100m from a US pension fund, and recently ann