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Swiss Hedge Fund Shop To Bet On Return Of Luxury Travel
The global economy may be in shambles, but that isn’t stopping one hedge fund manager from betting that corporate jet travel and swanky seafaring will soon be back in style. Swiss-based fund of hedge funds shop Pentium Fund is readying to launch a new vehicle that will invest in such high-end items as yachts and jets, according to Alternative Investment News.
The new fund, which will hedge the risk of financing expensive yachts and airplanes by taking out insurance, is expected to launch by the end of the year. Vicente-Andres Zaragoza, founder and chief executive officer of the Geneva-based alternative investment firm, told the financial newsletter that he is seeking strategies that produce a stable income.
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