Tosca Plans UCITS Mid-Cap Fund

Mar 4 2010 | 1:41pm ET

Toscafund Asset Management is preparing a UCITS III-compliant version of its US$110 million mid-cap hedge fund.

The UCITS vehicle will launch later this month and follow the same strategy as the existing fund—complying with the stricter UCITS standards requires no change, CEO Martin Hughes told the Reuters Private Equity and Hedge Fund Summit.

The new fund will be offered through Deutsche Bank’s UCITS platform and will offer investors “an alternative to the index-tracking large investment trusts,” Hughes said. He said the decision to go with Deutsche Bank—after nine months of mulling Bank of America’s platform—came down to a name.

The Deutsche Bank platform “lets us keep the name… it will stay Tosca Mid-cap,” Hughes explained.

The UCITS fund will close at US$300 million. Hughes said Tosca is launching the vehicle in response to investor demand.

“We have been asked by private clients to make it available,” he said. “Deutsche Bank has facilitated that and I would expect quite a big interest.”

At the London summit, Hughes also offered his take on British equities, whose prices are so low they are “absurd.”

“My view is that the next five years will be good for equities,” he said. “There’s still value.”


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The healthcare sector went on a tear beginning in 2011, thanks in large part to the passage of the Affordable Care Act and its impending implementat