Sat, Nov 29, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

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

Thursday, January 19, 2012
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

PD

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. Unlucky Paulson & Co. rebrands $1.6bn Recovery Fund after 13% drop[more]

    From Businessweek.com: A maturing U.S. economic recovery is prompting Paulson & Co. to change course. The $19 billion hedge fund firm, led by billionaire John Paulson, told investors on a conference call this month that the Paulson Recovery Fund will be renamed Paulson Special Situations Fund on Jan

  2. Opalesque Roundtable: Islamic Finance races ahead with Sukuk, the first managed account platform, and foreign demand[more]

    Komfie Manalo, Opalesque Asia: A number of developments took place within Islamic finance in the past years, including the launch of a Islamic managed account platform and the further growth of the sukuk space that saw this instrument evolve from being a type of an ABS security that was rarely

  3. Fund Profile - A complex hedge fund strategy works for United Technologies[more]

    From Institutionalinvestor.com: Reports that portable alpha is dead have been greatly exaggerated, as Mark Twain might have phrased it. Another Connecticut Yankee, giant United Technologies Corp., is gearing up to grow its successful, nearly decade-long portable-alpha program. The UTC strategy took

  4. Opalesque Exclusive: The unintended consequences of Basel III[more]

    Benedicte Gravrand, Opalesque Geneva: Bijesh Amin, co-founder and managing director of Indus Valley Partners (IVP), a technology solutions and services firm focused on the alternative asset management industry, has recently observed

  5. Legal - Six years after AIG takeover, lawsuit reveals another potential buyer[more]

    From Institutional investor.com: When former Treasury secretary Henry (Hank) Paulson Jr. testified in a suit last month about the U.S. government takeover of American International Group, his words were — mostly — numbingly familiar. Explaining the “punitive” terms set for the September 2008 bailout