17/02/2010 Author: Suzie Neuwirth

Global Evolution set to launch two new funds

Global Evolution, the Denmark-based emerging markets asset manager, is to launch two new funds next month.

One will be an emerging markets Ucits III fund with an FX strategy, similar to the Deutsche Bank FXSelect product that Global Evolution already manages. The Ucits fund will follow a discretionary macro trading strategy with an absolute return target. The new fund has been created for distribution by parent company Saxo Bank and is aimed primarily at private hig-net-worth investors. Saxo Bank will launch their marketing for this fund within the next few months.

The other offering is an Emerging Markets Frontier Fixed Income fund, which will invest in emerging markets, including Africa, Mongolia, Cuba and North Korea. The fund is designed to attract larger institutional investors such as pension funds, FoHFs and family offices, and is already seeing interest from institutional investors across Europe.

Global Evolution currently has one $20m hedge fund and one managed account, as well as four long-only funds, domiciled in the Cayman Islands. The two new funds will be domiciled in Luxembourg, in line with the increasing trend towards more regulated jurisdictions as a means of increasing investor confidence.

The two funds are due to launch on 1 March, with the exact launch date dependent on approval from the Luxembourg authorities.

Global Evolution declined to comment on current allocations or future expectations of size for the two funds.