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MontLake is an independent platform for UCITS funds that provides investors with access to a range of Irish-domiciled liquid, transparent and regulated investment products.

Tosca UCITS emulates the award winning offshore Tosca LP and invests primarily in equities across the entire value chain of financials globally. This large, liquid and diverse universe is rich in alpha, with varied drivers of profitability. Deep dive, fundamental analysis is at the core of the investment process where the six person strong investment team has over 90 years combined experience in this specialised and inherently complex area of the market. The team's extensive expertise as well as the breadth and depth of their contacts and relationships offers investors a significant and sustainable edge.

The fund will be led and managed by Johnny de la Hey, who has been the manager for Tosca since December 2008. He is supported by a team of analysts with expertise in global financials, property and business services.

Cyril Delamare, CEO of ML Capital commented: "From our long partnership with Toscafund we are delighted to support them for the launch of Toscafund's second UCITS launch on our platform and bring to our European investor base this unique product. We have every confidence in the team's proven ability to meet the demands of investors in today's long/short equity space."

Johnny de la Hey, Portfolio Manager and Partner at Toscafund commented: "We are pleased to be able to offer Tosca in UCITS format on the MontLake Platform. Our portfolio construction and risk management framework is already more exacting than the demands of UCITS and we are looking forward to being able to offer the strategy to clients who were precluded from investing in our offshore fund. Recent market moves mean we launch the Fund with an opportunity set which combines deep value rehabilitating incumbent businesses and genuine secular growth in newer technologically driven businesses. We would like to thank our early stage backers and have committed substantial amounts of our own capital to the launch".

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About Toscafund
Toscafund Asset Management LLP, founded in 2000 by Martin Hughes, is a multi-asset fund management firm with approximately $4bn of assets under management. Toscafund is based in London with offices also in Manchester and Greenwich, Connecticut and is authorised and regulated by the FCA.

Toscafund focuses on delivering absolute returns for a broad investor base. The firm's strategies include global long/short equity, long only equity, activist equity, direct lending, commercial property and bespoke Private Equity. For more information visit www.toscafund.com

About ML Capital
ML Capital is a forward looking leading independent fund structuring and investment management firm specialising in European regulated fund structures. As an award winning platform provider, we partner with the very best of investment managers to bring to market the latest, most appropriate, fund structures to comply with the raft of incoming regulatory requirements, whilst meeting the ever increasing expectations of investors. As at September 30th, 2018, group AUM stands at $7 billion.

ML Capital handles all aspects of the fund structuring and launch on investment managers' behalf. Through our dedicated network we also offer fund sales and distribution, if required, and have had comprehensive coverage of investors in all key European markets for the past 20 years.

Our goal is to provide the most appropriate fund structures to maximise distribution opportunities across all key markets. Our solutions bring together market leading service providers with some of the very best minds in the regulated fund space; providing well managed European investment products with the highest levels of service and governance. We ensure all incoming investors and partners come in with the full knowledge that they are investing into structures that are designed to protect and preserve investor interest.

MLC Management Ltd acts as third party management company for UCITS and AIFMD funds. Offering better compliance, oversight and management facilities than self-managed structures, the management company is the future of fund structuring; as the industry responds to the desire of investors and regulators for greater substance, we believe management companies will become the structure of choice for new funds, as others move away from self-managed fund structures. For more information on ML Capital please visit www.mlcapital.com

Press release