Merrion Launches UCITS-Compliant Hedge Fund

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.


In Depth

Q&A: High Conviction, Low Correlation

Oct 30 2014 | 7:35am ET

Acadian Asset Management's numbers are big: over $70 billion in assets under management...

Lifestyle

Ex-Hedgie Steyer Gives $56M To Climate Action Super PAC

Oct 28 2014 | 9:23am ET

Retired Farallon Capital founder Tom Steyer has poured almost $56 million into his...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

The yield curve and stock market response

Traders form habits quickly. Understanding these and their effects can better equip us to decipher actual market moves.

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.