Wednesday, 6 May 2015
Last updated 7 hours ago
Jul 11 2011 | 1:08pm ET
GLG Partners is launching a UCITS III-compliant version of its flagship hedge fund.
Like the existing GLG European Long/Short Fund, the new retail version, which will be available to British investors, will be helmed by GLG co-founder Pierre Lagrange. Lagrange will be assisted on the new Dublin-domiciled European Equity Alterantive fund by Simon Savage, a risk management specialist, and Darren Hodges, who handles options trading.
"Equity long/short can confer greater alpha, lower market beta and more consistent returns than traditional long-only disciplines," Lagrange said. "However, manager selection is also key and this is where GLG excels."
The new fund is GLG's 10th UCITS vehicle.
Lagrange told Bloomberg Television today that the fund currently has no short bets. He also said that it is currently focused on industrials, exporting companies and oil companies, and is shying away from banks, which are "very, very difficult to analyze" despite the "extraordinary" opportunities they may offer.
"We find the risk-return is better in other sectors," Lagrange said.
GLG was acquired by the Man Group last year. The combined firm manages in excess of US$70 billion.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…