Sat, Aug 19, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

GLG launches undervalued assets fund

Friday, November 15, 2013
Opalesque Industry Update - GLG Partners LP , the Financial Conduct Authority authorised and regulated investment manager and part of Man Group plc, is pleased to announce the launch of the GLG Undervalued Assets Fund.

Launching on 15 November, the fund will be managed by Henry Dixon, who, along with assistant fund manager Jack Barrat and analyst Alice Sharp, joined GLG recently from Matterley, the fund manager Dixon founded in 2008.

The fund, a mirror of the FP Matterley Undervalued Assets Fund¹ which has been managed by Dixon since launch in 2008 – returning 92.76% against a benchmark return of 53.61%² – will aim to outperform the FTSE All Share index through a market cycle.

Seeded with £40m of capital, the Fund will invest predominantly in UK equities which the manager considers to be undervalued relative to their asset base and to their returns on capital. Domiciled in the UK, the Fund will comprise between 40 and 60 stocks with a minimum position size of 0.5% and a maximum of 5% or twice the index weight. Sector weights are limited to an absolute sector limit of 25%, and are determined by upside, liquidity and volatility.

The portfolio may include European stocks, although these will only be included if they are materially cheaper than their UK peers and will be limited to a maximum of 20% of the portfolio.

The annual management charge is 0.75%.

Richard Phillips, Head of UK Retail at Man, said:

“Henry’s track record in managing the Matterley fund is extremely strong and we are pleased to offer a new portfolio which will implement the same process and approach that Henry and his team have put to such good effect since 2008. GLG has a strong reputation as a company which allows independent thinkers like Henry to flourish and we believe the new fund will be a valuable addition to our existing UK equity proposition.”

Henry Dixon said:

“We are excited by the opportunity to launch this fund with the backing of GLG. We will continue to employ the same strategy that has served us well in the past and look forward to leveraging off GLG’s additional resources with the aim of delivering attractive results to investors.”

Press Release

BM

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. FinTech - Danger: Crowdfunding on the wrong platform could force you to go public[more]

    From LinkedIn.com: Some equity crowdfunding platforms are putting startups at serious risk. Working with a platform that doesn't structure your deal appropriately could jeopardize your ability to raise future capital or worse, force you to become a public reporting company. The emergence of eq

  2. David Tepper says we're 'nowhere near an overheated' stock market[more]

    From Marketwatch.com: Billionaire David Tepper thinks comparing this current stock-market environment with the overheated markets of 1999 is "ridiculous." The hedge-fund manager, who runs Appaloosa Management, told CNBC in a phone interview on Tuesday that the market's record run, notwithstanding la

  3. Opalesque Exclusive: Altegris and Artivest partner on distribution for alternative funds suite[more]

    Bailey McCann, Opalesque New York: California-based investment firm Altegris has partnered with New York-based alternative investments platform Artivest on distribution for $1 billion in alternative funds. The partnership also launches Artivest's capabilities to offer alternative solutions to acc

  4. Investing - Buffett's Berkshire Hathaway will not increase its Oncor offer, Travel-tilting hedge funds are investing in airlines and online travel agencies[more]

    Buffett's Berkshire Hathaway will not increase its Oncor offer From Reuters.com: The energy unit of Warren Buffett's Berkshire Hathaway Inc said on Wednesday it will "stand firm" on its $9 billion offer to acquire 80 percent of Oncor Electric Delivery Company LLC and will not increase it

  5. Investing - David Tepper sells airline stocks, except Delta[more]

    From Forbes.com: Head of successful hedge fund Appaloosa Management, David Tepper shied away from airlines in the second quarter after upping his bets in the first three months of the year, according to his portfolio filing released this week. Tepper sold all of his position in United Continen