Gareth James Opalesque Industry Update - CastleRock launched with $25m of assets, and Sabre with $22m. Full information on each fund is available for institutional investors on www.laup.lu.
In the pipeline scheduled to launch on LAUP in Q1 2011 are a further 8 funds, including funds from RAB Capital, Act II, Fortinbras Asset Management and RP Capital.
LAUP is LFG’s one-stop independent and open-architecture platform for hedge fund managers to set up a European domiciled hedge fund or fund of hedge funds. Integrated with LFG’s substantial in-house distribution and deep knowledge of the UCITS market, it offers one of the most attractive all round UCITS packages in the industry.
“LAUP is now well on its way to being the leading independent UCITS solution for hedge funds. CastleRock and Sabre present compelling investment propositions, and we are delighted to be partnering with them for UCITS” Gareth James, Head of Head Fund Solutions at LFG, said.
CastleRock’s founder, Paul P. Tanico, said ““We are excited about the opportunity to partner with LFG on the launch of our UCITS III fund, CastleRock US Liquid Equities, as we believe they understand best the incredible opportunity this vehicle presents for funds like ours. We have generated 983 basis points of annualized outperformance, net of fees, versus the S&P 500 since our offshore fund’s inception in 1996 and believe our investment process is repeatable. We feel confident in our ability to continue generating positive absolute returns in the U.S. equity market, as profit margins are high, free cash flow generation and yields represent the most attractive levels seen over the past 50 years. Institutional investors will gravitate toward equity strategies given the low absolute return prospects for fixed income markets and now that we offer a UCITS III fund, a broader group of investors can access our proven stock picking strategy.”
Melissa Hill, the Managing Partner of Sabre, adds “Sabre chose LFG for this important UCITS project as we were impressed with their ability to deliver a cost effective personal and highly professional service to tight deadlines.”