Boutique fund manager Alpha Fund Managers (AFM) has added an Amundi Asset Management (Amundi) absolute return fund to its Alpha series multi-manager line-up.
AFM portfolio manager Matthew Zschech said investors would now have access to the Amundi VaR8 absolute return strategy, from one of the world's most experienced managers of absolute return funds.
The fund is a single manager, multi-strategy absolute return fund domiciled in Australia and offers daily pricing and daily liquidity.
According to an Amundi statement, it aims for an outperformance target of 4 per cent above the local cash rate.
"The Amundi VaR8 strategy was launched in Australia in 2007 and now has more than $60 million in funds under management. We are very pleased to partner with Alpha to provide its investors with the diversification benefits the strategy brings," Amundi chief executive Richard Borysiewicz said.
In April, AFM added the Fairview Equity Partners Emerging Companies strategy to its Alpha series multi-manager line-up in an effort to reduce its long-short ability in the portfolio, Zschech said.
AFM is a wholly-owned subsidiary of financial services company Infocus Wealth Management Pty Ltd, which was established in January 2007.
