Tue, Aug 4, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Reech AiM Partners launches long-only North America UCITS III fund

Wednesday, September 22, 2010
Opalesque Industry Update - Reech AiM Partners, a London-based $300m investment manager specialising in absolute return strategies, will continue expanding its suite of UCITSIII-compliant offerings with the launch of a UCITS long only North American equity fund which will be managed by the same team as that of its existing US long/short absolute return hedge fund.

The fund, called the Magnetic American Growth Fund, a North American equity strategy with an absolute return style, should debut November 1st with $20-$40m of initial capital, along with institutional commitments.

Ariane Daguise, Head of Business Development, said Reech Aim decided to launch an Absolute Return (long only with active use of cash and options) UCITSIII version alongside its existing US long/short Mariner Strategy, due to investor demand.

"The manager believes US equities are cheap and that there are a number of growth sectors and stocks emerging” she said. "We believe there is a case for managing long-only money with an absolute return approach, as well as hedge fund strategies."

Eduardo Tomacelli will be Magnetic's portfolio manager, having launched and managed the Mariner Strategy since 2000 and partnered with Reech last year. He has managed long only funds since 1987 at Sagitta Asset Management and Mercury Asset Management.

The fund will have both institutional and individual share classes, as it is has been granted reporting status in the UK.

The Magnetic fund will follow the debut of Reech CBRE's UCITSIII non physical real estate fund called the Glacier Fund, due to be launched in October 2010. Corporate website: www.reechaim.com

- FG

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. Other Voices: Same day reporting and the evolving role of fund administrators[more]

    By: Scott Price, Head of Business Development and Client Management for North America, Maitland Ernst & Young’s latest glob

  2. Activist News - Celgene says patent-fighting hedge fund manager wants to short its shares[more]

    From Reuters.com: Celgene Corp, one of the world's largest biotechnology companies, has accused U.S. hedge fund manager Kyle Bass of attempting to profit from his attempts to wipe out several major drug patents through his Coalition for Affordable Drugs. The company asked the U.S. Patent and T

  3. Einhorn's Greenlight Capital hedge fund slumps 6.1 percent in July[more]

    From Reuters/Thefiscaltimes.com: Hedge fund mogul David Einhorn's Greenlight Capital slumped 6.1 percent in July and is now down 9 percent for the year after gold, one of the fund's top holdings, tumbled to five-year lows last week. Greenlight notified clients of its returns late on Friday, ac

  4. Cowen Group, Inc. to acquire Conifer Securities[more]

    Cowen Group, Inc. and Conifer Securities, LLC had announced the signing of a definitive agreement under which Cowen will acquire Conifer Securities, the prime services division of Conifer Financial Services LLC. The transaction, the terms of which have not yet been disclosed, was approved by the boa

  5. Cargill’s Black River Asset to shut down four hedge funds[more]

    Komfie Manalo, Opalesque Asia: Cargill Inc.’s $7.4 billion Black River Asset Management said it was closing four hedge funds with a combined $ 1 billion in assets and start returning investors money over the next several months, various media said. The hedge funds represent 15% of Black River’

 

banner