MONTREAL (HedgeWorld.com)–Norshield Financial Group launched a new fund of funds on July 1 that is listed on the Irish Stock Exchange.
The Univest Global Fund Ltd. is a Cayman Islands exempted company that started trading with US$132 million and is the first of several new funds that Norshield plans to launch over the coming months. The offering is diversified among eight hedge fund strategies and invests with 17 managers with more to be added in the future.
The fund's structure is unique in that it lets clients customize their exposure to different alternative investment strategies through investments in the affiliated funds that have individually managed accounts with portfolio managers. The managed account structure allows the investment manager, Norshield Investment Partners, to provide active daily risk management for each client.
