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

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.