Thu, Sep 29, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

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. www.lfg.lu

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. actiipartners.com; mdidier@actiipartners.com.

Bg

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. Studies - Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements, Cambridge: Look to private investments for best access to LatAm growth[more]

    Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements A new study of the hedge fund space by industry law firm Seward & Kissel LLP reveals a wealth of information regarding established hedge fund managers’ use of side letters—special agreements

  2. Activist News - Caesars 'optimistic' on deal with hedge fund creditors[more]

    From Reuters.com: Caesars Entertainment Corp said on Monday it remains "optimistic" of reaching a $5 billion deal with the bulk of its creditors to push its main operating unit out of bankruptcy, but one hedge fund bondholder said it will pursue litigation. Caesars offered a sweetened $5 billion set

  3. Hedge funds recover from losses as central banks give markets a respite[more]

    Komfie Manalo, Opalesque Asia: The Lyxor Hedge Fund index was up 0.4% from the week ending September 20 (-2.4% YTD), supported by the willingness of central banks to remain accommodative, Lyxor Asset Management said in its weekly briefing. It ad

  4. Perry Capital closing flagship fund after almost three decades[more]

    From Blooomberg.com: Richard Perry, one of the biggest names in hedge funds, is calling it quits after 28 years. Perry, 61, is winding down his New York-based flagship fund as the industry confronts one of the most tumultuous periods in its history. In a letter to investors Monday, he said his style

  5. Eden Rock buys Gottex stake in ERG Asset Management[more]

    Matthias Knab, Opalesque: Eden Rock Group announced the purchase of Gottex’s stake in ERG Asset Management and so the firm is now wholly owned by Eden Rock. The two firms established the joint venture in 2011 to focus on providing cost effective solutions to funds holding illiquid investments, as