More recently, fund-linked officials noted the firm's partnership with the Permal Group, a USD35 billion asset manager, and the launch of Permal Silk Road Fund, which tapped into investor interest in emerging markets. The fund of funds focuses on emerging markets, with a focus on the geographical area which made up the Silk Road.The firm was also active in Asia, where it drew attention among other deals for placing a large-scale fund-linked structure with Korean retail investors. The structure was an open-ended trust that referenced the Tremont Investable Hedge Index. In Japan it scored another industry first by designing a rainbow payoff for hedge fund sector indices, which included a yearly look-back feature to rebalance the sector weightings.
* Barclays Capital * BNP Paribas * Lehman Brothers