LFG Launches UCITS Version of ACT II Long/Short Fund

Apr 1 2011 | 8:28am ET

Luxembourg Financial Group has launched a US$50 million, UCITS III version of its ACT II Capital Specialist Equities Fund.

The new fund, a daily liquidity UCITS III Luxembourg SICAV, will follow the original Cayman-based fund, which has delivered 10.4% annualized returns since its launch in 2002. (The Act II Capital Fund generated a positive net return of +4.14% in 2008 compared to losses of -37.00% for the S&P 500 Index and -26.65% for the HFRI Equity Hedge Index.)

The new fund will be available in British pound, euro and U.S. dollar share classes.

Like the Act II Capital fund, the UCITS fund will employ a long/short equity strategy focused on bottom-up, in-depth, fundamental analysis in the media, leisure, internet & consumer, technology, business services, and telecommunications sectors across all capitalizations in primarily U.S.-based companies.

Michael Didier, a partner in the Act II Capital SICAV, says: “We are really excited about being able to offer our award-winning fund in UCITS III form. Our strategy fits perfectly within the UCITS framework and we will have to make no alterations to the way we run our fund.”

Luxembourg Financial Group is a structured products boutique and specialist asset manager with $5 billion in assets under management or issuance and offices in Luxembourg, London, Bahrain and Stamford, Conn.

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