3A, the alternative investment division of Swiss asset management group Syz, has launched a new UCITS III fund of hedge funds. 3A Dynamic UCITS III is aimed at professional clients and will not be sold to the retail market.

The fund invests in UCITS III hedge funds and is itself also compliant with the requirements of the UCITS III directive. It is a sub-fund of the Luxembourg SICAV Oceano.

The fund seeks a low volatility of 2-4 per cent with a return target of 6-8 per cent. It comprises between 18 and 25 positions and will be available in dollars, euros and Swiss francs.