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RFP: Absolute Return Strategy

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A large U.S. financial institution is searching for an Absolute Return strategy. The allocation is expected to be USD 30-70mm (the allocation can increase depending on performance). The strategy will form part of a global multi-strategy 40 Act mutual fund. 

Search criteria

  • Investment: Preferably Global Macro, CTA, and event-driven strategies with a correlation to fixed income close to zero and an equity beta lower than 0.3.
  • Target: SOFR + 2-4% net.
  • Max drawdown: Less than -15%.
  • Track record: Minimum 4 years of the proposed strategy.
  • Minimum strategy AUM: $500mm.
  • Liquidity: Preferably monthly. Quarterly is accepted. Investments should be liquid assets only.
  • Reporting: Monthly/quarterly review of performance and attribution across strategies.
  • Fee structure: A flat fee of 70bps or lower. No performance fees (hard restriction)
  • Investment vehicle: Separately managed account. The fund manager should have experience sub-advising mutual funds.

Process outline
The RFP will be used as the first screen (1st round). Managers qualifying for the 2nd round will be asked to answer additional questions and provide further information. A final shortlist will follow from the 2nd round.

Performance data

USD, Gross of fees

Deadline
September 20, 2023 (Cut-off: Midnight CET, Expiry date inclusive)

Reverse solicitation

This search constitutes a reverse solicitation process as described under AIFMD, MiFID II and MiFIR whereby the investor (using GFS as an agent) on its own (exclusive) initiative and with the intention of investing in (or initially receiving information regarding) AIF(s) or its AIFM (or an intermediary acting on their behalf), investment services or activities, or its financial instruments. GFS has documentation (i.e., “paper trail”) if requested by authorities.

For more information: www.globalfundsearch.com

Title Pic: donfiores—shutterstock.com

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Kamran Ghalitschi
Kamran Ghalitschi
Kamran has been working in the financial industry since 1994 and has specialized on client relations and marketing. Having worked with retail clients in asset management and brokerage the first ten years of his career for major European banks, he joined a CTA / Managed Futures fund with 1,5 Billion USD under management where he was responsible for sales, client relations and operations in the BeNeLux and Nordic countries. Kamran joined a multi-family office managing their own fund of hedgefunds with 400 million USD AuM in 2009. Kamran has worked and lived in Vienna, Frankfurt, Amsterdam and Stockholm. Born in 1974, Kamran today again lives in Vienna, Austria.

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