Friday, 27 March 2015
Last updated 1 hour ago
May 3 2010 | 10:45am ET
Merrion Investment Managers is throwing its hat into the UCITS III ring.
Not only is the fund, which debuted on April 16, Merrion’s first UCITS-compliant hedge fund vehicle, it’s also expanding beyond a few other comfort zones. The Merrion European Absolute Return Fund is the firm’s effort to attract investors beyond its traditional Irish base and its stable of traditional funds, HFMWeek reports.
The new fund, seeded with €20 million, is managed by former Pengana Capital managers Michael Nicol and Alistair McDonald. The vehicle employs a long/short equity strategy across Euripean markets, with a €250,000 minimum investment and fees of 1.5% for management and 20% for performance.
Merrion, which already boasts three long-only UCITS-compliant funds, is targeting the European Absolute fund at institutional investors. The firm is reportedly in talks with several British funds of hedge funds and pension funds, as well as several European banks about a distribution deal.
“We don’t see UCITS as a retail product,” Merrion business development chief Kevin Gallacher told HFMWeek. “Initially, we’re hoping to use it as another wrapper to deliver hedge fund strategies to institutional investors.”
Gallacher also said the fund is unlikely to be Merrion’s last UCITS-compliant hedge fund.
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…