EFG launches fund of hedge funds

EFG Asset Management, part of the private bank owned by the Latsis family of Greece, has launched a fund of hedge funds designed to generate steady returns.

The fund, known as the All Weather Fund, hopes to raise $100m (€112m). John Parsons, marketing chief at EFG, said it is seeking to generate returns of between 8% and 12% by the selection of appropriate managers.

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