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HEDGE FUNDS
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Swiss alternative investment firm Peak Partners launches fund of hedge funds03/09/2008. Source: AltAssets. 
 Geneva-based fund manager Peak Partners has launched a new fund of hedge funds focusing on asymmetric return strategies, Mont Blanc Summit. For its first three months of operation, the fund returned 1.95 per cent in USD net of fees, according to the firm.
Mont Blanc Summit invests in specialised hedge funds pursuing strategies which aim to provide investors with stable returns. The fund targets structured private placements and over-collateralised loans with equity kickers, but also with more traditional alternative strategies including distressed and deep value investing, the firm said in a statement.
Robert Seiler, senior analyst and portfolio manager of the fund said, 'Most hedge fund managers pursue trading-based strategies that seek to generate absolute returns in every type of market. However, experience shows that it is difficult to discriminate between skill and luck and that even talented traders experience difficult times that can produce significant drawdowns for investors. The philosophy of Summit is to invest in alternative strategies that provide structurally asymmetric returns and do not depend on trading skills or market timing.'
Mont Blanc Summit currently offers a US dollar class, as well as Euro and Swiss francs fully hedged classes. The fund has assets under management of $57m.
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