Asset manager Trium Capital has launched the “all-weather, highly uncorrelated” Trium Multi-Strategy Ucits Fund for European investors.
The multi-portfolio manager, liquid-alternative product will initially cover ten alternative strategies such as capital structure arbitrage, long/short equity, systematic equity, event-driven and global macro.
An “advantage” of the fund is its fee structure, said Trium Capital. “Incentive fees are paid on total net fund performance rather than individual managers’ returns, meaning that no performance fee will be charged if the fund does not generate a positive return.”
The fund’s founders’ share class has a 50bps management fee with a 15% performance fee, structured as a single layer of fees.
Clark Fenton, head of multi-strategy solutions at Trium Capital, will manage the fund.
The asset manager said the fund allows portfolio managers to operate alpha-generating strategies with limited capacity, which would not be cost-effective as standalone options, all within a Ucits framework that provides daily liquidity.
The fund aims to be “highly uncorrelated” to major asset classes and the strategies within the fund. It targets annual returns of cash plus 3-5% over a market cycle, with expected annual volatility between 5-7%.
Fenton said: “This fund will bring a diversified package of alpha streams together in a highly uncorrelated all-weather fund.”
Donald Pepper, co-CEO at Trium Capital, said: “We have seen growing interest from investors in multi-strategy hedge funds in recent years and believe our competitive fee structure and nuanced approach to risk management makes the fund a compelling option for them.”
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