Tuesday, 30 September 2014
Last updated 3 hours ago
Mar 20 2007 | 1:24pm ET
Morley Fund Management has recently launched its UK Equity Long/Short fund with £16 million in seed capital. The Guernsey domiciled, Irish-listed fund will be managed by portfolio managers Ian Lancaster and James Follows.
Lancaster and Follows, alumni of long/short equity shop Progressive Alternative Investments Limited, joined the firm last June to continue managing their fund, which was recently re-branded as the Norwich UK Income Opportunities Fund, and to develop a long/short hedge fund.
The new fund will hold some 90 positions with a maximum long position of 3% to 6% of its NAV and a maximum short position of 2% to 4%. Its investment objective is a 10-15% return per annum.
“The Morley UK Equities Long Short hedge fund is a natural extension of the long-only space,” said Lancaster. “The aim of the fund is to deliver an absolute return to investors with significantly lower volatility than the FTSE All Share Index by taking long and short positions in UK listed equities. The focus will be on small- and mid-cap stocks and we will also invest selectively in the large-cap sector.”
The UK Equity Long/Short fund charges fees of 1.5/ 20 with a minimum investment requirement of £300,000, €500,000 or $500,000.
Morley currently manages five single-strategy hedge funds—four in long/short strategies and one convertible bond arbitrage fund. It also manages a fund of hedge funds, segregated private equity funds and two funds targeting absolute returns, one via bonds and the other through tactical asset allocation.
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 McKitish of Peddie School's 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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...