Direct lending specialist Prestige Funds has launched a multi-manager fund investing in private debt and high yield credit funds across the globe.
Managed through Malta-based AIFM Prestige Capital Management, the Multi Finance Opportunities fund will target returns of 5% to 7% per annum and will provide investors with access to absolute returns from lending and alternative credit strategies.
Available in advisory and institutional share classes, the fund charges a 1.5% management fee and no performance fee.
The fund's model investment portfolio consists of allocations to six core pillar strategies across 17 individual credit funds with a combined total of $4bn in AUM.
Areas of credit and private debt the firm has identified as possible strategies the new fund could allocate to include trade finance, invoice finance, real estate bridge finance, market place lending and high yield credit.
A strategic and tactical asset allocation process will be employed to select appropriate managers and sectors for allocation, while underlying investments will be constantly monitored for performance, volatility and drifts in intrinsic risk and changes within management.
Founder of Prestige Funds Craig Reeves explained the Multi Finance Opportunities fund is designed to provide investors with "a genuine alternative inflation hedge in an increasingly uncertain and volatile world".
He added: "The universe of private debt managers has now reached a point of maturity that will enable an effective multi-manager approach to this sector, with a growing universe of specialists managing diverse strategies in different countries."