Opalesque Industry Update - Cantab Capital Partners, the systematic global macro manager has announced that it is closing its CCP Quantitative UCITS Fund on 30th June 2013.|
Since inception the fund has delivered positive returns in line with expectations, succeeding in minimising tracking errors against the Cayman version of the CCP Quantitative Fund. However, following new UCITS guidelines it will no longer be possible to implement strategies that trade commodities within a UCITS wrapper.
Existing investors will be offered the chance to transfer, cost free, into either the original CCP Quantitative Fund, which the UCITS fund tracks and which was closed to external investors in November 2012. Alternatively, they will be given the option to transfer into the new CCP Core Macro Fund – that offers lower fees and daily liquidity.
Dr. Ewan Kirk said: “We do not believe in restricting our products or trying to circumvent rules. As a result we are saddened to close our CCP Quantitative UCITS fund, but are committed to ensuring our investors do not lose out as a result.”