ANI PR Wire
17 Jan 2023, 10:30 GMT+10
New York [US], January 17 (ANI/PRNewswire): Hedonova, an alternative investment fund with headquarters in Los Angeles, California, and offices across the globe, has recorded strong growth in returns as well as an asset base. Hedonova generated returns of 32.8 per cent post fees in 2022. In a short span of 3 years since its ambitious launch in 2019, Hedonova has seen exceptional growth in multiple avenues of its business. Assets under management increased from USD 160 million to USD 400 million.
The fund generated post fees returns of 32.8 per cent largely driven by its litigation finance and carbon credit holdings which, as separate asset classes, have generated returns of 58 per cent and 265 per cent. Startups and wine investments were the laggards in the portfolio losing 14 per cent and 6 per cent in 2022.
Hedonova's assets under management increased from USD 160 million to USD 400 million which includes assets added on when it acquired Chinese asset manager Qingdao Holdings, which it acquired in May 2022. Alongside increased AUM, clientele increased too. Hedonova primarily serves European and Asian institutional investors and US high net-worth investors. The number of clients increased from 2900+ to 3600+ with the number of institutional investors doubling and the number of high net worth investors increasing by 30 per cent.
As Hedonova's CIO Suman Bannerjee encapsulates the year- "Closing the year with 33 per cent net returns validates our efforts and is in line with our long-term strategy of making alternative investments accessible to our investors. We aspire to upscale our business further and enhance our product offerings in the coming years through consistent strategy and execution." Hedonova's assets under management have crossed a revenue from USD 160 million to USD 400 million and are projected to grow by 200 per cent in the coming fiscal year.
Hedonova opened two more offices in 2022 - in Singapore and Riga, Latvia. Singapore serves as an investor relations office serving South East Asian Markets and China while the office in Riga is a development center managing trading technology operations and mobile interfaces.
Hedonova operates through an extensive master-feeder model where the master fund is in the USA while feeder funds are in Singapore, Switzerland, and India. In 2022, the feeder fund network was expanded to the British Virgin Islands, Luxembourg, and Abu Dhabi. "We increased the number of feeders in Euro jurisdictions and the Middle East because we've been seeing increased demand from these regions," says Alexander Cavendish, Hedonova's CEO. "Feeder funds allow institutional investors to invest flexibly and in a safe, tested regulatory environment."
Hedonova is an Alternative Investment Fund that holds a diversified portfolio of alternative assets such as non-fungible tokens (NFTs), wine, cryptocurrencies, and real estate. With feeder funds in Switzerland, Luxembourg, Singapore, and India, European and Asian investors can diversify their investments in alternative assets that could conceivably appreciate, from art to wine, and sports collectibles could be classified as alternative investments.
Contact:
[email protected]
This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)
Get a daily dose of Herald Globe news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Herald Globe.
More InformationSINGAPORE: Singapore has ordered Facebook's parent company, Meta, to block Singaporeans from seeing posts made by three foreigners...
DES MOINES, Iowa: Iowa's governor has launched a lawsuit against the Des Moines Register, seeking to block the newspaper from obtaining...
DETROIT, Michigan: A former top official at a major Detroit nonprofit was sentenced this week to 19 years in prison for stealing over...
ALBUQUERQUE, New Mexico: Thousands of people are gathering in New Mexico for a big event that celebrates Native American and Indigenous...
SAN FRANCISCO, California: San Francisco is taking steps to change how it handles drug use. After Some people say focusing on quitting...
WASHINGTON, D.C.: President Donald Trump signed an executive order to expand job training for skilled trades this week, shifting focus...
New Delhi [India], May 1 (ANI): Punjab Kings (PBKS) on Thursday announced that Australian all-rounder Glenn Maxwell has been ruled...
London [UK], May 1 (ANI): Seven venues have been confirmed to host the ICC Women's T20 World Cup next year in England and the final...
Chennai (Tamil Nadu) [India], May 1 (ANI): Punjab Kings (PBKS) picked up a crucial win over Chennai Super Kings (CSK) in the ongoing...
Chennai (Tamil Nadu) [India], May 1 (ANI): Punjab Kings (PBKS) skipper Shreyas Iyer was fined for maintaining a slow over-rate during...
Chennai (Tamil Nadu) [India], May 1 (ANI): Following his side's loss to Punjab Kings (PBKS), MS Dhoni-led Chennai Super Kings (CSK)...
Chennai (Tamil Nadu) [India], May 1 (ANI): Punjab Kings (PBKS) continued their strong push towards playoff qualification with a four-wicket...