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Anavon launches its global equity long/short hedge fund in UCITS format

Thursday, October 09, 2014
Opalesque Industry Update - Today, Anavon Capital LLP has launched the Anavon Global Equity Long/Short UCITS fund on the Alpha UCITS Platform. The new fund will be run pari passu with Anavon’s global long/short strategy that was launched in January 2011. Tages Capital LLP has acted as day 1 investor ensuring the UCITS fund has critical scale at launch.

Anavon Capital LLP (“Anavon”) is a London-based hedge fund manager with a successful track record since January 2011 in managing its global equity long/short strategy. The firm was co-founded in 2010 by Avraham Mevorah and Avi Fruchter. Prior to co-founding Anavon, Avraham Mevorah was a partner at Fortelus Capital and Avi Fruchter was a partner at Attara UK.

Together they devised Anavon's differentiated strategy which relies on deep fundamental analysis, a liquid portfolio and risk management to provide consistent absolute returns while maintaining a controlled risk profile. The investment universe consists of mid- and large cap developed market equities.

TAGES Capital LLP (“Tages”) is a leading alternative multi-manager solution business, 60%-owned subsidiary of Tages Group, with approximately over $3.5 billion of assets under management and advisory. The company has been operating since 2011 and has increased its AUM at a double digit rate in the first three years of operation. TAGES Capital takes a unique advisory approach to fund management, with the majority of AUM represented by customized solutions to institutional clients.

Alpha UCITS Ltd. is a London based company founded in 2009 by Stephane Diederich, formerly a Partner at Brevan Howard Asset Management LLP. Alpha UCITS is a fast-growing structuring and distribution platform for UCITS funds launched by blue chip hedge fund managers.

Salvatore Cordaro of Tages Capital commented: “We are excited by this strategic relationship with Anavon and to add the Anavon Global Equity Long/Short UCITS fund to our investment portfolios with the help of the Alpha UCITS platform. Alternative UCITS are a strategically important and fast growing part of our business and we believe that Tages can provide significant value to its investors by seeding successful hedge fund strategies in UCITS vehicles.

Justin Denham, COO of Anavon said “Launching a UCITS version of our global equity long/short strategy will be a vital milestone for Anavon. We considered a number of options and decided the proposal offered by Alpha UCITS was by far the best solution. It combines a solid platform with operational expertise that allows Anavon to focus on investment growth and performance. We are delighted to have Tages as a core investor in our new fund.”

Stephane Diederich commented: “We are delighted that Anavon Capital has chosen the Alpha UCITS platform for its Global Equity Long/Short UCITS Fund in partnership with Tages Capital, one of the largest and most successful investors in hedge fund UCITS.

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