Class C Oxford fund seeded with $20m

Oxford Advisors has launched class C of the Oxford Alternative Strategy Fund, seeded with $20m. Oxford currently has assets under management of $960m and has three investment funds: a fixed-income fund, a market neutral fund and the alternative strategy fund with three share classes, A, B and C.

The aim of class C is to offer investors an increased likelihood of capital growth by developing a multi-manager portfolio that will perform favourably in most types of market conditions.

Class C's assets are allocated to 10 to 15 portfolio managers. This combines the different investment strategies and techniques of each manager and reduces the volatility that can often characterise the use of a single investment approach.

Although the overall objective of the fund is to remain market neutral, the strategies used will fall into one or several of three categories: defensive, stable (relative value) and opportunistic (short-term trading). Class A of the Oxford Alternative Strategy Fund opened in April 2000 and class B opened in June 2000.

Patrick Harrigan, managing director of Oxford Advisors, said: "All classes of shares in this fund have been designed to meet the specific needs of increasing numbers of institutional investors requiring actively managed products with targeted levels of risk."

Minimum investment in the fund is $1m and there is a 1.5% annual management fee and an incentive fee of 10% of the excess of new appreciation over one month's Libor on an annual basis.