Wednesday, 1 April 2015
Last updated 9 hours ago
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.”
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…