Edmond de Rothschild Prifund
Each subfund is managed either as a fund of funds or as a portfolio of direct investments. The Prifund subfunds cover all the major financial asset classes: money market placements; fixed income; long-only strategies on European, American, Swiss, Japanese and Asian equities; mixed assets; natural resources; property; alternative strategies (the Alpha line); and quantitative strategies.
Edmond de Rothschild Prifund, incorporated in 2000 in Luxembourg under Part II of the Law on UCI, is authorised for distribution in Switzerland, the Netherlands, Luxembourg and Singapore (as a Restricted Recognized Scheme).
The Prifund Alpha line
The Prifund Alpha subfunds provide access to the unique know-how of Banque Privée Edmond de Rothschild SA in creating, managing and operating funds of hedge funds.
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1. Expertise
Banque Privée Edmond de Rothschild SA has been in the alternative multimanagement business since 1969, when we set up the world’s first fund of hedge funds.
This was the brainchild of Georges Karlweis, who went on to become a general manager and managing director of the Bank. Alexandre Col, who has directed the Investment Fund Department of our Geneva headquarters since 2000, began his career at the Bank in 1994, working with Mr Karlweis and as assistant to Hubert Tonson La Tour. Thus, there is a direct continuity between 1969 and the present since the current head of investment funds was trained by the inventor of funds of hedge funds.
2. Security
Prifund itself as well as its custodian, administrator and management company are all overseen by either the Swiss or the Luxembourg financial regulator.
The umbrella fund is a Luxembourg-based SICAV administered by our Luxembourg subsidiary, Banque Privée Edmond de Rothschild Europe.
The management company, Banque Privée Edmond de Rothschild SA, Geneva, is a publicly traded Swiss bank.
3. Liquidity
Prifund has honoured every single application by shareholders to redeem shares. In late 2008 early 2009, when numerous hedge funds were suspending their NAV publications or even going belly-up, we maintained our one-month liquidity and never activated the gate and sidepocket provisions of our prospectus.
The notice period for redeeming shares is still only one month, with a 0.5% exit fee that is ploughed back entirely into Prifund. There is no subscription fee.
4. Team
A staff of 40 in Geneva handles the management, administration and distribution of the Alpha line, including the legal and all other aspects of its operation.
The Group also has fund-of-hedge-funds teams in Paris and London. In all, over 80 specialists are dedicated to alternative multimanagement.
5. Size
As of the 31st of December 2009, the assets under management of the Group’s funds of hedge funds totalled USD 11 billion. The Prifund Alpha subfunds authorised for distribution in Switzerland had assets of CHF 3 billion.
6. Due diligence and monitoring
Our screening and tracking processes can be trusted, as illustrated by our funds of funds' ability to weather the 2008-09 financial crisis.
7. Track Record
The Prifund Alpha sub-funds realized an outstanding performance compared to their peer groups on most periods, enabling them to remain in the top quartile of all rankings.
8. Awards
Our multimanager products won several coveted distinctions in London, New York and Geneva, notably from distinguished publications or institutions well-known in the traditional and hedge fund industry, such as InvestHedge, Banco, or Portfolio Advisers.
At the occasion of the InvestHedge Awards 2009 given in March 2010 in New York, four of our funds and the Edmond de Rothschild Group have been nominated. This year two funds have been awarded.
In 2011, InvestHedge, New York named again the Edmond de Rothschild Group the world’s best fund-of-hedge-funds management group.
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