SIGMA Asset Management’s Discovery Fund has won an industry award. It was named best performing specialist fund of hedge funds over one year on a risk/return basis at the European Fund of Hedge Funds Awards, hosted by trade journal Hedge Funds Review.
Hugues Lamotte, chairman of Sigma Asset Management (Guernsey) Ltd’s board of directors, said the company was delighted to have won the award.
‘This reflects the premier levels of performance and service that we have been and will continue providing to investors.’
The Discovery Fund is a cell of SAM Diversified Holdings PCC Ltd, a Guernsey-domiciled protected-cell company.
It is managed by Sigma Asset Management (Guernsey) Ltd, a wholly-owned subsidiary of Atlas Capital Group.
The open-ended fund was launched in April 1997. It invests in hedged and directional equity and debt in emerging markets and was worth US$188m. at the end of October.
The Discovery Fund delivered returns of 33.8% in the year to the end of September [the 12 months on which the award was based] and 35.14% for the year to the end of October.
‘Guernsey is an attractive jurisdiction in which to base fund operations because it is renowned for its robust yet pragmatic regulatory environment, has considerable experience and expertise in a wide range of asset classes and is at the forefront of innovations such as the PCC,’ said Alex Wise, head of legal and due diligence at Sigma.
Guernsey-based service providers to the fund include administrator Close Fund Services, custodian Fortis Bank, legal adviser Carey Olsen and auditor Deloitte & Touche (Guernsey).
Mr Lamotte said Sigma had now operated out of Guernsey for six years and was committed to the island.
‘We do receive investment advice from London but the management, administration and other services to our funds are physically carried out from Guernsey.’
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