Wharton launches first fund of hedge funds
London-based Wharton Asset Management, which has $4 billion of assets under management, has introduced its debut fund of hedge funds.
“The new fund, pH7, brings together Wharton’s understanding of the managers’ strategies with its experience of evaluating hedge fund structures and operational risk,” said Dave Shastri, who oversees alternative investment at Wharton.
The Bermuda-based fund is targeting annual performance of 10-12%, with 5% volatility. It will implement relative value and arbitrage strategies. The portfolio has been allocated to around 20 managers. Minimum investment is $1 million and subscriptions and redemptions are on a monthly basis.
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