Macquarie and Bucephale Group create new structured financial products

02 January 2003

LONDON - Macquarie Group, an international specialist investment and advisory group, has entered into a business relationship with Geneva based Bucephale Group to create and launch a series of innovative financial structures based on an underlying portfolio of fund of hedge funds.  The structures will focus on tax efficient and market protective strategies using Bucephale’s three investment styles and will be tailor made to the individual client needs for private banks and third-party asset managers.

The structures will be marketed into Switzerland and the rest of Europe with an anticipated launch date set for December 2002.

According to Macquarie representative Jonathan Jenny, “We are pleased to be able to provide innovative and flexible structures on Bucephale’s managed fund of hedge funds with their long and solid track record. The combination of Bucephale’s fund management expertise and Macquarie’s structuring capability has created a unique series of tax efficient hedge fund investment structures. We believe our combined expertise will provide the basis for a value-added partnership with independent asset managers who are seeking sophisticated, innovative investments for their clients.”

Mr. Claude Bovet, one of the Bucephale Group’s Managing Partners, said: “Macquarie’s decision to create structured products using our investment styles is new proof that Bucephale’s expertise in managing this asset class provides a sound foundation to the structured investments that institutional and private investors require in this moment of unstable markets.”

For more information contact:

Jonathan Jenny
Macquarie
Tel: (44 020) 7065 2244
Email: jonathan.jenny@macquarie.com

Giuseppe Tomé
Bucephale Group
Tel: (41 22) 809 07 57  
Email: gt@bucephale.com
Website: www.bucephale.com

Notes to Editors:

Macquarie Group
The Macquarie Group provides specialist investment, advisory and financial services in select markets around the world. Its approach is driven by a deliberate focus on areas where its particular skills and expertise deliver a real advantage for clients.

Technical expertise, strong risk management and an enterprising approach underlie our activities in all areas. The Macquarie Group employs over 4’700 employees in 45 locations. The bank has been listed on the Australian Stock Exchange since 1996.

The  Equity Markets Group in London engineers original investment solutions for third-party asset managers and their customers.

Macquarie Bank Ltd. is regulated in the UK by the FSA and is a member of the London Stock Exchange.  

Bucephale Group
Bucephale Asset Management Ltd is a fund of hedge funds manager. The Bucephale Group was established in Geneva in 1996 as a team of buy-side investment professionals focused purely on investment management. This approach, which importantly ensures the firms independence, reaches back to its heritage established with the launch of creInvest, the first ever fund of hedge funds listed and traded on a stock exchange. The firm is also recognized for its skill in creating and developing innovative fund of hedge funds structures that provide solutions to institutional and private investors’ requirements. Bucephale benefits from a solid reputation with hedge fund managers as an industry expert and is known for its quantitative and qualitative skills. The firm manages a number of funds of hedge funds according to three investment styles, dubbed the Bucephale Styles, representing varying risk/return profiles. The veteran style, Stayer, has a more than six year track record that is among the oldest in the industry. For more details, please visit www.bucephale.com