Thu, Sep 18, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Merrion Investment Managers hires specialist team, launches UCITS European L/S equity fund

Tuesday, May 04, 2010
Opalesque Industry Update - Dublin-based Merrion Investment Managers has recruited a specialist long short equity team, comprised of Michael Nicol and Alistair MacDonald, to manage a new UCITS III European Absolute Return Fund.

The new fund combines the expertise of an experienced team with the stability of Merrion’s established UCITS platform. The fund is targeting an absolute return of 15% to 20% per annum with annualised volatility between 7.5% and 10%. It has been launched with US$20 million of initial investment.

Michael Nicol and Alistair MacDonald have accumulated over fifty years of investment experience. Their approach is to detect mis-priced company securities through company analysis that focuses on understanding companies’ business models, earnings drivers and risks. Stock timing decisions are made by identifying valuation anomalies and catalysts that are likely to lead to re-rating or de-rating. At the heart of the investment process is a strong understanding of the nature of risk and a proprietary correlation analysis model that guides portfolio construction.

During the past 10 years, portfolios managed by Michael Nicol have not produced any negative annual returns and he has successfully applied the strategy to manage a fund of over € 600 million.

Kevin Gallacher, Director, Merrion Investment Managers, comments: “The Merrion European Absolute Return Fund is designed to provide investors with the absolute return characteristics of a hedge fund plus the transparency and daily liquidity of a regulated UCITS product. It enables investors to access the proven stock-picking skills of an experienced long short equity team on a tried and tested administrative platform. ” Michael Nicol, fund manager, Merrion Investment Managers, says:

“During the last ten years, global equity markets have entered a more volatile and less certain environment for returns. Our investment process has delivered consistent positive absolute returns with low volatility in both rising and falling markets. Perhaps most importantly, it operates with low levels of leverage and does not need to be adapted or compromised to comply with UCITS regulations.”

www.merrion-absolute.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. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Investors looking at other sources for hedge fund-like returns[more]

    Komfie Manalo, Opalesque Asia: Investors who are always on the lookout for higher gains are looking at alternative sources of income, particularly exchange-traded fund industry that generates hedge fund-like returns, according to

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Opalesque Exclusive: Old Hill Partners launches specialty finance fund[more]

    Bailey McCann, Opalesque New York: Asset-backed lending is starting to heat up again after a prolonged credit squeeze. The Financial Times reports that a record £18.9bn was borrowed from asset-based lenders in the three months to the end of June. Much of this lending is driven by advanc