Industry Updates

PROSPER Launches a New UCITS Long/Short U.S. Equity Fund

Thursday, January 19, 2012

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Opalesque Industry Update - PROSPER FUNDS SICAV has announced the launch of PROSPER Stars & Stripes Fund, a new long/short fund investing in US equities with a UCITS compliant strategy. PROSPER Stars & Stripes Fund is managed by Independence Capital Asset Partners, LLC (ICAP), a US-based hedge fund manager.

The fund replicates a proven absolute return strategy which has offered better cumulative and risk-adjusted returns than equity investments over the past seven years. In the current challenging market environment, PROSPER Stars & Stripes represents a timely opportunity to capture equity markets upward potential while keeping a safety cushion in case of turbulence. The fund, which is still reserved for an institutional clientele, will be registered shortly in Switzerland.

(press release)

PROSPER Stars & Stripes: a high added value complementary strategy within an equity allocation PROSPER Stars & Stripes invests in US equities with a long/short approach. Independence Capital Asset Partners, LLC (ICAP) is a specialised long/short equity manager focused on the US market, with an established track-record since 2004. Their results compare favourably with long/only strategies in bull markets thanks to their directional bias, while their portfolio is less volatile and more resilient in bear markets thanks to both its flexible market exposure and the alpha generated by its short book.

PROSPER Stars & Stripes replicates ICAP’s absolute return strategy which has achieved an attractive absolute performance, outperforming the US equity market over the past seven years with a lower volatility (8.9% annualised return with an annualised volatility of 12.7% vs 3.6% and 16.3% respectively for the S&P 500 Index – From 11.01.2004 to 12.31.2011).

Independance Capital Asset Partners, LLC (ICAP): a specialised investment manager with a strong edge in fundamental research ICAP was founded in Denver, Colorado in November 2004 by James Hillary, a former Marsico Capital Management co-founder and portfolio manager who has 21 years of research and long/short investment experience. The company manages about USD500 million. ICAP has built a very strong research team of specialised analysts with complementary backgrounds, lead by the company founder and portfolio manager. The team follow a fundamental contrarian approach and have developed a proprietary company modelling with over 2,500 companies currently in database. Corporate website: Source

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