Signet Launches Global UCITS Fund of Funds

Fund-of-hedge-funds management and advisory group Signet is launching its first UCITS-compliant fund of funds for its institutional and private-bank clients.

The London and Switzerland-based group which runs some $1.4 billion of assets, said the Signet Multi-Strategy Fund would offer  weekly liquidity amd would be able to allocate to around 15 hedge funds globally, in line with the limits set under UCITS III guidelines.

The Dublin-domiciled fund is intended for investors in the UK, continental Europe and Asia.

As with Signet’s other funds of funds, the new fund will aim to produce consistent, low-volatility returns largely uncorrelated with traditional markets.

Tim Gardner, Signet’s global head of sales, said: 'Our clients have asked for, and we have delivered, a genuine fund of UCITS hedge funds - not a wrapper or an index. Because the underlying funds will be UCITS-regulated, they will be subject to strict limits on leverage and liquidity.'

The firm's founder, Robert Marquardt, said: 'As the number of UCITS hedge funds has increased exponentially, research and risk management have become critically important, and the best funds-of-funds distinguish themselves in both these areas. Our experienced team performs precisely the same thorough due diligence on these funds as it does for our other funds.'

He added: 'The fund will be flexible in terms of strategy. It will allocate mainly to long/short equity and fixed income, but also to multi-strategy, global macro, and other strategies – always keeping UCITS guidelines in mind.'