Spectrum Partners has launched a UCITS III-compliant version of its Russian long/short hedge fund in partnership with Merchant Capital.
The Russian Phoenix Ucits Fund debuted last week and is the first of five new UCITS funds Merchant plans, the Financial Times reports. The Spectrum fund invests primarily in large-cap stocks, both in Russia itself and in other former constituents of the Soviet Union.
"Merchant Capital are able to bring funds to market much quicker than some of the larger platforms and have a good track record specifically with alternative products," Spectrum's Michael Kart said.
The new fund has a minimum investment requirement of £20,000.