Open-ended hedge fund from Permal

Hedge fund managers Permal Investment Management Services has launched an open-ended fund of long/short hedge funds investing in a handful of Permal's best underlying managers on behalf of private and institutional investors.

The Luxembourg-listed and domiciled fund, the Global MultiManager Long/Short fund, is Permal's tenth multi-manager offering. It will hold about 12 managers, with the number of funds and asset allocation being roughly 40% the US, 30% Europe, 20% Japan and 10% from the rest of

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