US/SWITZERLAND – American Express Bank (AEB) has launched its third fund of hedge funds, the global market neutral conservative fund of funds portfolio.

The new fund is targeted at risk averse investors looking for alternative investments to deposits and short term bonds. Thus the fund has been designed with particular attention to risk.

It is split into five investment styles, convertible arbitrage, volatility arbitrage, merger arbitrage, equity market neutral and fixed income arbitrage.

The fund currently has 17 managers but this will increase over time to between 20 and 25.

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