Fortress Investment Group, an investment management firm based in New York, intends to start its second hedge fund in Asia in 2012, Reuters reports. The new fund will trade volatility and try to shield investors from tail risk, or rare and extreme occurrences in financial markets.
The firm, which oversees approximately $44 billion, did not disclose the size or other details of the fund. At present, the company operates the Fortress Asia Macro Fund which is down 1.23 percent for the year.
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