New Managers January 2020

Launches

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1. BMO Global Asset Management (BMO GAM) has launched three sustainable multi-asset funds with varying risk profiles. The actively managed strategies form part of the firm's low-cost Universal Multi-Asset Portfolios (Map) range and will be managed by the multi-asset team led by Paul Niven, with Simon Holmes as lead manager on the sustainable range.

2. Algebris Investments has launched a credit fund, designed to help investors face the challenge of finding positive yield in high quality assets in the current low yield environment. The Algebris IG Financial Credit Fund, a sub-fund of Algebris UCITS Funds Plc, will be managed by Sebastiano Pirro, financial credit portfolio manager at Algebris. The Fund aims to generate an attractive level of income and modest capital appreciation in the medium term by investing predominantly in investment grade securities (rated BBB- or above) issued by Globally Important Financial Institutions (G-SIFIs) and national champions, Algebris said in a note.

3. Neuberger Berman has announced the launch of the Neuberger Berman Macro Opportunities FX fund, which seeks to deliver positive returns through relative value across G10 currencies. The fund will aim to deliver positive returns of 5-6% in excess of cash per annum before fees, by "exploring relative value" across G10 currencies. It will be led by Ugo Lancioni, Neuberger Berman's head of currency management, who will be supported by a dedicated team of five investment professionals.

4. Magnetar Capital, the alternative investment firm started by Alec Litowitz and Ross Laser, is set to launch its first health-care hedge fund next year, seizing on a strong sector for startups.The firm is seeking about $400 million in the first close of fundraising by mid-2020, according to a person with knowledge of the matter. Portfolio manager Chris Procaccini, 43, who joined the firm in 2018, and a team of four analysts will take long and short positions on well-k......................

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This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.