Schroders fund aims for 9% returns above cash

Schroders has launched a closed-ended fund of hedge fund aiming to return investors 6% to 9% a year above sterling cash returns. Bermuda-domiciled, it has a Dublin listing for tax efficiency for UK-domiciled investors.

The offer period for the Schroders Alternative Strategies Fund Diversified Fund (SASFD), which will charge no performance fee, began on 1 September. The fund will close to new investors on 21 November, but Schroders does not rule out reopening the fund at a later date.

The fund will