Strasbourg-based investment firm La Financière Galilée has launched a flexible fund of funds, Galilée Fund Picking Strategy on 10 July 2017.
The fund will fully rely on external fund selection operated by Roni Michaly, head of Multi-Management at La Financière Galilée.
It will seek to outperform its composite benchmark (35% MSCI World Netr Euro Index, 35% Bloomberg Barclays Global Aggregate Total Return Index Value UnHedged EUR and 30% Eonia Capitalised) by investing primarily in equity and fixed income funds.
The FoF does not have investment constraints regarding geographical areas, sectors, issuers or bond ratings.
However, the exposure to emerging market equities will be limited to a maximum of 50% of the FoF’s net assets and that to small cap equities to 30%, according to fund literature.
It can also invest in ETFs at a level of 15% and up to 70% in a number of market instruments such as derivatives, options and futures, Michaly said to a French trade publication.
Also the funds selected in a FoF will be required a one-year track record and a minimum of €5m of assets under management.
La Financière Galilée was founded in 2000.