The funds available via FRM Principia are aimed at high net worth and ultra HNW individuals. Among the features of the product are detailed monthly reports, monthly or even more frequent liquidity, new portfolios and it will give investors class-leading levels of transparency and insight into the drivers of returns, the firm said.

The inaugural product via the new suite is Principia TR-S 40 Ltd, for which FRM seeks to raise $1 billion. It will blend an allocation to managed futures funds and a diversified portfolio of premiere hedge funds. TR-S 40 targets returns of 10-15 per cent annually with annualised volatility of 8-10 per cent and low correlation to equities over a market cycle. The fund offers monthly liquidity with 20 days notice.

On a regular basis, FRM will develop and launch additional products for distribution partners and their clients under the Principia brand.