Making waves

Since its inception in December 1996, the Alternative Investment Strategies fund of hedge funds from International Asset Management (IAM) has returned investors 88.74%.

This equates to the fund, listed on the London Stock Exchange since 1996, producing an annualised rate of net asset value (NAV) returns of 10.27% to the end of May, according to figures from IAM, on annualised volatility of 8.8%.

The fund was initially listed in London to make it easier for two insurance firms that had helped seed

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