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Unicorn gets AA accolade from hedge rater

The Luxemburg-based Unicorn fund of hedge funds has been awarded a AA rating from hedge fund research firm Allenbridge HedgeInfo.

The rating is based on an observation period over the last five years, during which the multi-strategy fund of hedge funds maintained its low risk and low volatility profile even as the credit crunch star- ted to bite.

It returned 9.31 per cent in 2007 but this year it has suffered, along with many hedge funds. It has returned -1.68 per cent in the year so far date,but Allenbridge HedgeInfo says this is still above the industry average.

Allenbridge HedgeInfo says the Unicorn fund has delivered good risk-adjusted performance within its stated target range for returns and volatility. It is impressed with the fund’s qualitative investment process and the diversified exposure to alternative investments within a Sicav structure. It also noted that the fund’s monthly liquidity, with a 30-day notice period, is one of the best available.

Allenbridge HedgeInfo chief executive Christopher Miller says: “The Unicorn fund of funds has a track record of more than 12 years and during this time, the senior investment team has remained in place, giving the fund an unusually high degree of experience and consistency.”


Bond sales fall by a quarter

The Association of British Insurers is blaming a combination of poor economic conditions and changes to capital gains tax for falling investment bond business in the second quarter of 2008.It says single-premium investment bond sales were down by 26 per cent to £6.86bn in Q2 compared with the same period last year.Spokesman Jon French says: […]


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