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R&SAI brings in Mainstay $

Royal & SunAlliance International and Thames River Capital have joined forces again for the introduction of the Mainstay $ fund.

Mainstay $ is a multi-manager offshore fund of hedge funds and is aimed at sophisticated customers who are familiar with hedge funds and who have not been put off by recent market volatility.

The fund will invest in between 15 and 20 hedge funds that follow eight different investment philosophies. These are convertible arbitrage, equity market neutral, merger arbitrage, event driven, equity trading short term, equity hedge defensive, distressed and derivative arbitrage.

The day-to-day administration of the fund will done by Royal & SunAlliance Investments, while the investment decisions will be made by Justin Newdigate at Thames River Capital. Newdigate has also managed the Thames River Capital sentinel and warrior since their introduction in 1998.

The mainstay $ fund is similar to NIB International’s optimum return fund, which invests in up to 20 hedge funds. The NIB International product is more restrictive however, as it invests in funds in just four investment strategies, covering funds that go long, short, market neutral and merger arbitrage.

According to Standard & Poor’s the Thames River Capital sentinel fund is ranked 37 out of 51 funds and the Thames River Capital warrior fund is ranked 33 out of 51 funds, based on £1,000 invested on a bid-to-bid basis with gross income reinvested over three years to October 29, 2001.


Zurich moves into LTC

Zurich Financial Services is entering the long-term care market through a new company, Zurich Care Solutions, and a tie-up with Bupa.The company will offer practical help on LTC as well as offering financial products from Bupa. This includes assistance in finding accredited care homes and organising home care.Zurich has recruited a team of advisers with […]

Treasury launches consultation on baby bonds

The Treasury is launching a further consultation on baby bonds following favourable response to its initial proposals.It will consult on whether the Child Trust funds should be sold direct or through intermediaries in the same way as Isas or whether to grant licences to a limited amount of providers. It says the endowment and further […]

Absolute Fund Management – Absolute Fund

Thursday, November 29, 2001.Type: Oeic.Aim: Growth by investing in hedge funds.Minimum investment: $100,000.Place of registration: Dublin.Investment split: 100 per cent in hedge funds.Isa link: No.Charges: Annual 1 per cent.Commission: Subject to negotiation.Tel: 020 7661 9190.

Before the flood

Most people like a small flutter such as backing a horse in the Grand National. If they win, great. If not, it does not really matter, the stakes involved are not high and it is unlikely to make a big difference to their lives.Each year, however, millions of households take a much bigger gamble and […]

Creating opportunity out of change

By Denise Wond, marketing manager The buy-to-let market has recently been the subject of a raft of tax changes, all of which make it a less profitable and less appealing proposition for investors. In response, we’ve seen a dip in demand for BTL mortgages and that’s bad news for many advisers who will now be looking […]


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