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London quant manager SABRE to launch UCITS III version of award winning arbitrage Fund

Tuesday, May 18, 2010
Opalesque Industry Update -
 Launch planned for July 2010;
 Daily liquidity UCITS III Luxembourg SICAV, operated by Luxembourg Financial Group;
 Will follow the Sabre Style Arbitrage Fund, an award winning quantitative market neutral fund which has delivered 8.2% annualized returns since launch in 2002.

Sabre Fund Management (“Sabre”) is to launch an innovative UCITS III fund, with daily liquidity, to allow access to the returns of its award winning equity market neutral strategy, the Sabre Style Arbitrage Fund.

The market neutral fund will invest in stocks chosen from a universe of 1500 names and captures returns that are derived from the longer term effects of economic cycling plus returns generated by short term investor behavioral activity. As such, the fund has a stable opportunity set and has been able to generate since inception in 2002 consistent returns in line with its target of 8-12% p.a.

Sabre has been trading hedge fund strategies since 1982, and quantitative strategies since 1997.

Its Sabre Style Arbitrage Fund has been available as a Cayman offshore fund since 2002, and will be available as a UCITS for the first time. It is a multi-award winning fund, having just won the HFM Week Award for best Market Neutral and Relative Value Fund earlier this year, and having previously won similar awards with Hedge Fund Review and been nominated on many occasions by EuroHedge for the best quantitative equity arbitrage fund.

Melissa Hill, the Managing Principal of Sabre, explains “We are very excited about being able to offer our fund via a SICAV. We have been approached by a number of investors who are interested in accessing our strategy in a UCITS format, and we hope that this product will continue increasing investor demand for funds that target consistent attractive returns with low volatility.”

The new fund will be 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 expect big interest, as we have been able to keep the fund true to its original investment strategy, but with the added benefits of secure custody, risk management and liquidity that UCITS III offers.”

See our Oct-09 Opalesque Exclusive: Sabre Adaptive Trading Fund, a less directional CTA here

Sabre Fund Management was established in 1982 but, following a management buyout, led by Melissa Hill in December 2005, it is now majority owned by the people who work in the business. Sabre specialises in quantitative strategies and is a firm well known in London having been one of the pioneers of alternative investments.

In addition to the equities team, Sabre has brought a managed futures team on board in late Q3 2008 to manage the Sabre Adaptive Strategy. The firm is currently trialling a new product that will allocate to both strategies as a “best quant ideas” fund.

Luxembourg Financial Group is a structured products boutique and specialist asset manager with offices in Luxembourg, London 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. The firm has over $4bn of assets under management or issuance.


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