Grupo Mercantil Santa Cruz (GMSC) shareholders have formed an asset manager, Strategic Asset Management, HFMWeek reports. The Bolivian asset manager is planning to launch its first hedge fund later in 2011. The expected hedge fund offering, to be called the Strategic Hybrid Americas Fund, will invest in equities and fixed-income in the region. The hedge fund will also consist of some real estate and private equity components. GMSC launched its first mutual fund, the Strategic Latin America Fund, in May 2010.

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