Commerzbank Securities has launched a fund of hedge funds aimed at institutional fixed income investors seeking an alternative product with low correlation to their existing holdings. The fund was initiated by a specific request from one investor "who wanted a product that had...as little correlation to their existing bond portfolio as possible," said Philippe Bonnefoy, investment advisor for the firm's alternative investment strategies. The Comas Gateway Fund has been launched with around $20 million from this investor and will be capped at $150 million, he continued. The initial investor will further add to its allocation, having spoken for $50 million of the total capacity.
Commerzbank Starts Fund With Low Correlation
