Thursday, 30 June 2016
Last updated 5 min ago
Nov 29 2010 | 10:15am ET
The Lutetia Patrimoine Fund, a Paris-based UCITS absolute-return fund specializing in merger arbitrage marked its first birthday with a 26-fold increase in assets under management, which now stand at about $80 million.
A first offering from independent asset manager Lutetia Capital, the weekly dealing Patrimoine Fund was launched Nov, 27, 2009, with $3 million.
Lutetia Capital co-founder Fabrice Seiman said: “We launched the Lutetia Patrimoine Fund with the goal of democratizing hedge fund strategies, using a strategy that is rare among UCITS funds. We have shown not only that our strategy can work, but that it can excel in delivering consistent, risk-adjusted returns to investors—within UCITS guidelines for transparency and liquidity. As we always say, slow and steady wins the race. With the M&A cycle continuing to accelerate, we see great things for this fund.”
The Lutetia Patrimoine Fund is available through its custodian, BNP Paribas.