Morley Adds Another Long/Short Strategy To The Mix

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.


In Depth

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

Common Risk Parity Misperceptions

Jul 16 2014 | 11:02am ET

Over the past few years, risk parity has become a component of most investors’...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note