Cominvest, the asset management arm of Commerzbank AG in Frankfurt, said Monday that it will offer a fund of funds program in the second half of this year.
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The fund will be developed as part of a partnership with PlusFunds Group Inc. in New York, which will supply a separately managed account platform, and with the Zurich-based active fund of funds manager Harcourt, which will advise on manager selection and investment allocation.
Using some of the 69 managers available on the PlusFunds platform, Cominvest plans a diversified approach that invests in all the main hedge fund strategies. This is calculated to meet demands for product transparency and risk management of institutional clients.
