Seven Capital Management has received approval from the Luxembourg financial regulator, CSSF, to launch its Luxembourg-domiciled BlackSnake fund, an AIFM-regulated alternative investment fund (AIF).
The fund, which follows the firm’s Commodity Trading Advisors (CTA) strategy, will invest in a wide range of asset classes, including commodities and foreign exchange without swaps.
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However, its CTA global trend following strategy, with a volatility target of 20%, will invest in fixed income, equity, forex and commodity futures markets.
Additionally, the new fund will use investment strategy similar to that of the company’s existing fund, the Seven Absolute Return Fund, an Alternative Ucits multi-strategy fund.
The fund, which opened for subscription on 10 February, is offered to investors in euros and dollars.
Johann Schwimann, CEO of Seven Capital Management, said: "By launching the BlackSnake alternative investment fund, Seven Capital is returning to the select club of high yield CTA managers.
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By GlobalDataJohann Nouveau, CIO and Partner of Seven Capital, said: "Furthermore, the new AIFM regulations enable us to manage a Luxembourg fund from Paris and to apply our investment process to it. It is the first European cross-border passport between France and Luxembourg for direct alternative investment and it represents a real breakthrough for French fund managers in a highly competitive international environment."
