Hedge fund operator 3A Alternative Asset Advisors, has moved the registration of its $225m fund of hedge funds, ACE, from the Cayman Islands to become a Sicav in Luxembourg.
The Geneva fund group has also decided to introduce 10 sub-funds covering five strategies under the umbrella. Each strategy has one fund with a dollar and one with euro shares. They will employ five different strategies to allow investors to mix investments as they wish. These sub-funds are expected to be activated within the