Salus Alpha has launched a fund which tracks the Vienna Stock Exchange-listed Absolute Return Index, called Salus Alpha Multi Style.

Salus Alpha has launched a fund which tracks the Vienna Stock Exchange-listed Absolute Return Index, called Salus Alpha Multi Style.

The firm says the Absolute Return Index, which was launched by its subsidiary Alternative-Index, outperformed its best competitor (FTSE Hedge Index -20.23 per cent) by +18.47 per cent and its worst competitor (MSCI Hedge Invest Index -25.72 per cent) by +23.96 per cent.

The fund has expected returns of eight to ten per cent per annum. 

It invests in alternative investment strategies such as global macro, currency trading, CTAs, merger arbitrage, distressed securities, fixed income arbitrage, long/short equity and equity market neutral.

The firm says this diversification represents an attractive alternative to risky stock investment as well as to low yielding bond investment.

The subscription period for the Salus Alpha Multi Style is from 23 March 2009 to 1 April 2009. During the subscription period no sales fee will be charged.

Salus Alpha plans to register the fund for public distribution in other European countries as well.