Vontobel Asset Management and Salus Capital Management have launched the Salus Market Neutral Fund, an open-ended company based in the Cayman Islands. Vontobels role will be that of investment manager and Salus will serve as sub-investment manager.
"Vontobels absolute return strategy will seek positive returns with low volatility while targeting a low level of correlation to the equity and debt markets," said Peter Newell, managing director of Vontobel Fund Distributors. "Salus has an outstanding record over the last 10 years of providing large U.S. institutions with consistent absolute returns with a very low correlation to the broad market indices. With our new fund, we will be able to offer the proven disciplined process of Salus to a much wider audience with lower investment minimums."
The Vontobel Group, based in New York, currently manages more than $40 billion for an international group of corporate, institutional and individual investors. Salus Capital Management, based in Los Angeles, currently manages more than $900 million for U.S. institutions, foundations and endowments.