Sat, May 26, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

ML Capital announces first manager to launch on Montlake UCITS Platform

Monday, September 20, 2010
Opalesque Industry Update - ML Capital Asset Management (ML Capital) announced today that the first manager to launch on the Montlake UCTIS platform will be Clareville Capital Partners LLP, the firm founded by David Yarrow. The fund will commence trading on October 1, 2010.

David Yarrow and Angus Donaldson will co-manage a UCITS compliant derivative of the 13-yea- old Pegasus Fund, which employs a UK Long/Short equity strategy. Since its inception in 1997, the Pegasus Fund has built up a strong investment track record.

Commenting on the launch, John Lowry, Chairman of ML Capital said: "The UCITS revolution allows investors to access managers who can actively short stocks and hedge a portfolio, however managers with long and successful experience of running equity hedge funds are in short supply. The Pegasus fund has been running for over a decade and has always been run in line with the UCITS principles, which is very comforting to our investors.

"Yarrow and Donaldson's investment style will appeal to a lot of our investors. Their strong performance in upwardly trending markets and excellent downside protection in perilous markets is demonstrated by their track record. This is exactly what the alternative UCITS solution is looking to provide to investors and is why we believe that Clareville Capital is the ideal launch manager for the Montlake UCITS platform."

Angus Donaldson added that: "A UCITS compliant version of the Pegasus fund is a natural next step for us. Pegasus has always offered investors a high level of liquidity, transparency and stable returns over a variety of market conditions. We are delighted that ML Capital have appointed Clareville Capital to be the launch manager of their new UCITS platform. This is a key launch for our business.

"The past 10 years have illustrated the limitations of traditional "long only" equity investing. All investors should have the opportunity to protect themselves from market volatility by investing in regulated hedge funds. However, many of the managers who have launched alternative UCITS products have found that they have weak brand awareness outside of the hedge fund world. This applies not just to smaller boutiques but also some of the very largest hedge fund houses.

"While there are today a plethora of bank controlled platforms available, we were looking for a different solution, one with all the clear benefits of a strong platform with the added key factor of a real and widespread distribution capability. A link-up with a powerful distributor like ML Capital was an easy decision for Clareville which is and is likely to remain a focused boutique sized investment management business."

(press release)

Source

kb

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Hedge funds hike Smurfit Kappa positions amid takeover deal hopes, Hedge fund IBV Capital digs deep to unlock long-term value in a competitive market, Eisman of 'The Big Short' fame recommends shorting Deutsche Bank[more]

    Hedge funds hike Smurfit Kappa positions amid takeover deal hopes From Irishtimes.com: Two US hedge funds, Davidson Kempner and York Capital, have accumulated a combined 4.74 per cent interest in cardboard box maker Smurfit Kappa using financial derivatives. It comes as many investors cl

  2. Foundations of hedge fund managers gave big to controversial donor-advised funds[more]

    In the world of philanthropy and tax-deductible charitable giving, the explosion of donor-advised funds has touched off intense debate. Now, there is evidence that the DAF boom is being further fuelled by hedge fund foundation money. Four of the top five foundations that gave the most to large do

  3. Third Point to raise $400 million for SPAC, Farley to run it[more]

    From Reuters.com: Daniel Loeb's hedge fund Third Point LLC plans to raise $400 million for a "blank check" company which will be run by outgoing stock market operator NYSE Group President Thomas Farley, according to a regulatory filing made on Tuesday. The new company, referred to on Wall Stre

  4. Study: For hedge funds, smaller is better[more]

    From Institutionalinvestor.com: The smaller the hedge fund is, the better its performance is likely to be, according to a new study. The study - "Size, Age, and the Performance Life Cycle of Hedge Funds," released April 26 - sought to determine whether a hedge fund's size and age had any effect on i

  5. Hedge fund returns rose in April for first gain since January[more]

    From Bloomberg.com: Bloomberg Hedge Fund Database shows returns flat this year - Currency strategies had the biggest monthly gain at 13% Hedge fund returns increased 0.78 percent in April, reversing two consecutive monthly declines. The swing of 134 basis points was driven by gains in all seven