3A rolls out ACE funds of funds for Italian investors

3A Alternative Asset Advisers is to launch products in Italy in the first half of 2003 similar to the Alternative Capital Enhancement (ACE) product it runs out of its Geneva office.

Tony Morrongiello, 3A's chief executive, said the Italian roll-out would come through Albertini, the Milanese private client group, in which 3A bought a 50% stake last year.

The product will encompass a balanced fund of alternative funds, a multi-strategy fund of hedge funds, low volatility product and fund of long/sho