UK asset management firm City Financial has presented the City Financial Asian Absolute Growth Fund, its first foray into the Asian fund of funds market and its first fund primarily targeted at institutional investors. Capitalising on the strong maturation of the Asian hedge fund market in recent years, the fund is designed for investors seeking hedged exposure to Asian markets, with low fees and a high degree of transparency. In contrast to many of its peers, the performance fee only applies once 10 per cent performance has been delivered, with no catch up. This, coupled with a management fee of only 80 basis points, puts the fund in an exclusive group aimed at offering high returns without characteristic high costs.
The City Financial Asian Absolute Growth Fund offers a concentrated portfolio of 10 high-conviction funds with exposure to growth in China, India and other Asian markets. These funds are meticulously selected by Aoifinn Devitt and the Clontarf team from a field of over 1000 and evaluated for transparency, track record and returns, complimented by personal meetings with a team that spends one month in three in Asia.