Clareville Readies UCITS Hedge Fund

Sep 17 2010 | 1:15am ET

Clareville Capital is throwing its hat into the UCITS III arena. The London-based firm is planning a regulation-friendly version of its flagship Pegasus Fund.

The new fund will be part of ML Capital’s Montlake Ucits platform, and will launch in early October. The Pegasus Ucits fund will employ the same U.K. long/short equity strategy as its predecessor, targeting annual returns of 12%, CityWire reports.

Like the existing Pegasus fund, the new fund will be managed by David Yarrow and Angus Donaldson. The current fund has £48 million in assets. It is down 4.7% this year.

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