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Act II Capital Specialist Equities Fund launches as UCITS III with $50m

Friday, April 01, 2011

Gareth James
Opalesque Industry Update - The Act II Specialist Equities fund, an innovative fund of the Act II SICAV, has been launched, with daily liquidity that will precisely follow the investment strategy of the Cayman based Act II Capital Fund and is initially available in British Pound, Euro, and U.S. Dollar share classes.

● The Fund, like the Act II Capital fund, will practice a long/short equity strategy focused on the bottom-up, in-depth fundamental analysis in the media, leisure, Internet & consumer, technology, business services, and telecommunications sectors across all capitalizations in primarily United States based companies.

● The fund's investment universe consists of growth areas in the economy (Internet, Smart Phones, Tablet Computers, Video Games, etc.) that are in the midst of a vast, multi-year secular transformation, which will result in many winners and losers.

● The Act II Capital Fund was incepted in March 2002 and has annualised returns of 10.4%. The fund generated a positive net return of +4.14% in 2008 compared to losses of -37.00% for the S&P 500 Index and -26.65% for the HFRI Equity Hedge Index.

Michael Didier, a partner in the Act II Capital SICAV, explains "We are really excited about being able to offer our award winning fund in UCITS III form. Our strategy fits perfectly within the UCITS framework and we will have to make no alterations to the way we run our fund." The new fund has been set up as a Luxembourg UCITS III SICAV in partnership with Luxembourg Financial Group ("LFG").

Gareth James, head of hedge fund solutions at LFG, adds "We are really excited about bringing Act II to LAUP. They bring UCITS investors access to an exciting investment area with real growth potential, but unlike most of the index chasing funds in their sector, they have shown risk management capabilities in managing down periods and have generated real alpha from their sector."

(press release)

Luxembourg Financial Group is a structured products boutique and specialist asset manager with offices in Luxembourg, London, Bahrain and Stamford CT. Its hedge fund division offers fund managers a range of solutions, from setting up UCITS III funds to certificate & Sharia wrapping and structured products.

Founded in 2002, Act II Capital LLC is an equities manager based in New York, specialising in investing in sectors including media, internet, technology and telecom in primarily the US markets. Founded by Dennis Leibowitz and Darren Sardoff, who remain principals and coheads of the 5 person investment team, Dennis and Darren have over 5 decades of successful investment experience in their respective sectors. Act II has $325m of assets under management.;


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