Asset management firm Stenhem Asset Management announced last week that it has launched two new fund of hedge funds.
London-based Stenham said in a statement that it launched a credit fund and a healthcare fund on January 1.
Launched with $21 million, Stenham's credit fund returned 3.44% since its inception and allocates across a full spectrum of credit strategies, including credit long/short, structured credit and distressed debt strategies.
The healthcare fund started trading with $15 million in assets, which invests primarily in equity-based healthcare strategies. The fund is up over 7% since its January launch date.
With offices around the world, including New York and Cape Town, Stenham manages about $2.1 billion in assets.