Friday, 27 November 2015
Last updated 1 day 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…