Nedgroup opens fund to retail investors

Nedgroup Investments, a subsidiary of the South African Nedbank Group, has teamed up with Thomas Miller Investments (TMI) to make three funds of hedge funds available to British retail investors.

The vehicles, which have been in existence since 1999, are offered in three different currencies and Nedgroup says they each give investors access to offshore funds which provide a higher-quality, lower-risk alternative to cash deposits. The portfolios contain cash deposits, fixed rate bonds and floating rate assets.

Investor approval was received by Nedgroup in November to use the Sterling fund, US Dollar fund and Euro fund as feeder funds to similarly-named TMI master funds.

Minimum investment is $4,000 (£2,600) or currency equivalent.