Stenham expands healthcare funds range

Stenham Asset Management has launched a new credit and a new healthcare fund of hedge funds, Stenham Credit Opportunities and Stenham Healthcare.

Stenham Credit Opportunities launched on January 2013 with $21m and has returned 3.44% since inception. The fund is a concentrated portfolio of credit managers, targeting 8-12% annualised returns and allocates across the full spectrum of credit strategies, investing in best-in-class managers in credit long/short, structured credit and distressed debt strategies which are often unavailable to traditional investors.

Allocations to individual strategies are managed dynamically as opportunity sets evolve. The fund invests in 6-10 high conviction managers and offers quarterly liquidity with 95 days’ notice. The fund has a 25% gate.

Stenham Healthcare also launched on January 2013 with $15m and has returned 7.48% since inception. The fund is a concentrated portfolio of managers focused on the healthcare sector, targeting double digit annualised returns. The fund invests in primarily equity based healthcare strategies with around 6-10 managers with proven track records. The fund attempts to give investors exposure to the healthcare sector via experienced specialist healthcare managers and offers monthly liquidity with 35 days’ notice.

Stenham has been invested in Credit and Healthcare strategies for over 20 years as part of other portfolios the firm manages. It has launched the two stand-alone funds in response to increasing investor demand for niche, focused funds of hedge funds.

Tim Beck, senior research analyst and fund lead for Stenham Credit Opportunities said: ‘Many investors are wary of investing in on-the-run credit and fixed income securities given current yields. We believe the greater breadth of investments offered through this product, coupled with funds actively shorting segments of the market offers a compelling investment alternative’. 

The firm has 13 funds in total variously focused on Multi Strategy, Global Macro, Equity Biased, Credit and Commodity strategies.

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