Thu, Aug 25, 2016
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. Opalesque Exclusive: Algorithms platform aims to target typical challenges found in quantitative hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva: Last month, Quantopian received investments from Point72 Ventures, the new venture capital arm of Steven Cohen’s Point72 Asset Management.

  2. LatAm hedge funds surge in 1H to +24.4%, emerging markets assets rise[more]

    Komfie Manalo, Opalesque Asia: Hedge funds investing in Latin America posted strong gains through mid-2016, reversing declines in four of the past five years, including the last three years, to lead all areas of hedge fund performance through the first half of 2016, according to the latest HFR Em

  3. Asia - LGT Capital Partners: Alternatives set for continued rise in Asia[more]

    From Asianinvestor.net: More flows are likely into insurance-linked strategies, private equity and trend-following strategies/CTAs, given the benefits of such investments, argues LGT Capital Partners. Despite the numerous quantitative easing programs and bailouts of recent years, the quest for

  4. Opalesque Roundtable: Low and high fee investments often better than mid fee hedge funds[more]

    Komfie Manalo, Opalesque Asia: Hedge funds that charge the low and high fees stuff often provide better returns than "those sort of mid-fee investments", said Keith Haydon, chief investment officer of Man FRM. (Alternative) investment managers who charge high fees would often provide the most int

  5. Hedge fund investors pull $5.7 billion in July[more]

    From Bloomberg.com: Hedge funds suffered a third consecutive month of outflows in July as investors withdrew $5.7 billion, according to industry tracker Eurekahedge. Redemptions totaled $20.7 billion in the three months through July, with money managers betting on equities suffering $18.4 bill