ABN Amro was keen to make alternative investment products available to retail investors in Singapore, said Bo Kratz, chief executive of ABN Amro Asset Management. "This does away with the perception that hedge funds are purely for institutional investors, and gives us an opportunity to educate the general public in this asset class," he added.
The Singapore access period is set for August 6 to September 17 for investors with a minimum of S$100,000 to place in the fund. Distribution will take place through ABN Amro Bank, Standard Chartered Bank, plus a number of private banks, securities firms and online distributors, said Herman Barten, Singapore-based head of business development at ABN Amro Alternative Investment Group. ABN Amro expects gradual growth.
Barten added that the demand for hedge funds is rising sharply on a worldwide basis. “The Multi-Strategy Fund targets absolute returns while maintaining low volatility and low correlation with equity and bond markets,” added Barten.
The Multi-Strategy Fund is managed by ABN Amro Asset Management's Alternative Investment Group in London.