Tuesday, 23 September 2014
Last updated 2 hours 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.
Sep 22 2014 | 4:15pm ET
I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.