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Liberty Ermitage in fund name change

Liberty Ermitage has changed the name of its alternative investment fund of hedge funds to reflect its focus on event-driven strategies.

The fund, which was launched in 1997, has been renamed the Liberty Ermitage event-driven fund to identify it more strongly as an event driven fund rather than a broader arbitrage fund.

The fund’s objective will remain the same – to deliver consistent returns with low volatility by investing in a diversified portfolio of spec- ialist event-driven and mer- ger arbitrage hedge funds.

The company claims there has been a growing demand among investors for event-dri- ven strategies which reflects the high volume of merger and acquisition deals in the first half of the this, which Liberty Ermitage puts at the is the highest since 2000. It also says there has been an increase in restructuring, spin-offs and share buybacks which enhance shareholder value. Opportu-nities for event-driven strat- egies are also being created by private equity funds, as these are contributing to the surge in European mergers and acquistions.

Liberty Ermitage chief executive and chief investment officer Ian Cadby says: “As the number of fund of hedge funds has proliferated, the eight-year performance record and modular approach of our event-driven fund has given us an edge in a sector where many competitors have historically combined event-driven with other arbitrage strategies.

“We believe that clarifying the fund name will mean that investor research within the strategy will more readily identify our fund.”


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