Indus Offers UCITS Asia Fund

Jan 21 2011 | 1:24pm ET

Indus Capital Partners has launched its first UCITS III-compliant hedge fund.

The new Indus PacifiChoice Asia Fund debuted with US$10 million. It is managed by Sheldon Kasowitz and Ethan Devine of New York-based Indus, which launched the fund on Morgan Stanley's FundLogic platform.

The Indus UCITS fund will have between 60 and 90 long and short positions in Asia-Pacific markets, with about one-third of the portfolio concentrated in its top 10 positions.

"Asian markets are inherently inefficient and are therefore an excellent backdrop for long/short strategies," Indus said. "Since we founded Indus in 2000, we have been developing an investment process which we believe can yield positive returns in difficult markets, and strongly positive returns in stock-friendly markets, yielding an attractive return profile over a given cycle."

Morgan Stanley plans to market the fund primarily within the European Union. Its standard management fee will be 2% for institutional investors and 2.5% for retail investors, with both paying 20% for performance. There will also be a minimum investment requirement of US$1 million, £1 million or €1 million. But the fund is offering an "early bird" period with a reduced management fee of 1.5% and no minimum investment.

Morgan Stanley did not say how long the early-bird period would last.

The Indus fund is the second new fund on the Morgan Stanley platform this year, following the launch earlier this month of an Algebris Investments-run financials fund. There are now five UCITS funds on the FundLogic platform, with a sixth to come next month.


In Depth

Electronifie: Better Bond Trading

May 11 2016 | 3:03pm ET

Technology has revolutionized countless aspects of investing and trading, but the...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...