Arrow Hedge Partners Inc. is launching the Arrow RSP Multi-Strategy Fund, a “clone version” of the original Arrow Multi-Strategy Fund.

The fund currently allocates to 14 hedge fund managers among the following strategies: long/short equity; high yield hedge; risk arbitrage; convertible arbitrage; volatility arbitrage; and global macro.

The fund’s objective is to achieve an absolute return over t-bills with bond-like volatility and low correlation to major market indices.

It is the second Arrow multi-manager “clone fund” that qualifies as 100% Canadian content for registered plans. Both the Arrow RSP Multi-Strategy Fund and the Arrow Global RSP Long/Short Fund provide high net worth sophisticated investors with a globally diversified portfolio of investment styles, strategies, and asset classes by investing in several managers.

In compliance with sophisticated investor regulations, minimum investment levels for all Arrow hedge funds are $150,000 for all provinces in Canada, with the exceptions of Alberta, British Columbia, Manitoba, New Brunswick, PEI and Yukon which are $97,000, and Newfoundland, which is $100,000. Accredited investors in B.C., Alberta, and Ontario, qualify for a minimum investment of $25,000.