Opalesque Industry Update - Merrion Investment Managers is reducing the annual management fee on its Merrion High Alpha Fund from 1.5% to 1% on new investments from institutional investors made between 1 October 2010 and 31 December 2010. The reduced fee applies for the duration of the investment, effectively providing a ‘lifetime discount’ to institutional investors who invest in the fund during the offer period.|
The fund, which reached its three year anniversary in August 2010, has delivered exceptionally strong growth of 103% since launch which equates to 26.6% per annum. Over the same period, the global equity market (FTSE World Index) has fallen by -12.9%.
The Merrion High Alpha Fund is a global macro long short fund designed to deliver strong positive performance with a very low correlation to equity market returns. The fund takes concentrated positions in high conviction stocks to generate returns and makes use of tactical asset allocation between equities and cash to provide capital protection. The strategy does not make use of leverage. There is currently approximately €50 million invested in the High Alpha strategy.
As an Irish regulated Qualifying Investor Fund (QIF), it gives a high level of transparency and investors have the reassurance that the underlying assets are held by Northern Trust who have been appointed as independent custodian and administrator. The auditor of the fund is KPMG.
Kevin Gallacher, Director of Merrion Investment Managers, says:
“This offer gives institutional investors an incentive to invest into a fund which has delivered very strong returns over the last three years. The reduced rate will remain in effect for the duration of the investment in the fund.”
Merrion Investment Managers is a leading independent specialist investment management firm based in Ireland with assets under management of approximately €1 billion. Corporate website: www.merrion-absolute.com