The USD 38 million insurance company has committed to an additional three direct hedge funds this year and is currently looking for two more investments to add over the rest of 2010. It is particularly interested in macro funds but will consider other strategies. SUVA began to restructure its hedge fund portfolio at the beginning of 2010, when it decided to move away from funds of hedge funds in favour of direct commitments only. SUVA will invest in vehicles with lock-up periods of no longer than 24 months and will consider investing in any strategy depending on the fund structure and the manager of the fund. It commits on a global scale including emerging markets. When selecting new managers SUVA looks for managers with at least 3 years track record and with USD 1 billion in assets at the fund level. It will not invest with emerging managers or spin-off teams and does not seed funds. It will be considering UCITS compliant hedge fund managers for its portfolio expansion.
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