Sparx launches Greater China fund of funds

Alternative fund manager Sparx has launched a Greater China fund of funds. It has been seeded with $25 million by a pension fund client, but Sparx sees capacity at $200-$250 million. The fund will invest in a diverse array of hedge funds operating primarily in China, Hong Kong, Singapore and Taiwan. The fundÆs target return levels are 15%-20% per annum, over a two- to three-year horizon, with an annual volatility of 10%. Sparx will charge a 1.5% base fee and a 10% performance fee. A h…