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Leopold hedges its bets with a wide Fof choice

Leopold Joseph is launching a fund of hedge funds aiming to achieve high returns and low volatility.

It will be invested mainly in US hedge funds and will have a minimum investment of $50,000 (£34,700).

Initial charge will be 3 per cent and annual 1.5 per cent. There will be a 15 per centperformance fee on capital gains over 8 per cent a year.

Commission is up to 2 per cent initial, with negotiable trail payments.

The fund of hedge funds will be registered in the Bahamas and can be traded only by IFAs that are licensed to deal with unauthorised collective investments.

Leopold Joseph director Mark Boucher says: “Despite a tarnished image from a few well-publicised cases, most hedge funds are responsibly invested, well managed and provide high-quality, risk-adjusted returns.

“We have adopted a diversified investment approach so that investors will have access to a wide range of style and strategies in global capital markets, managed by a number of different investment houses.

“We have deliberately selected a wide range of funds with the aim of achieving consistent, high returns no matter which way the markets are moving – and with less volatility thanglobal equity markets.”

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