Patriotic Hedge Fund In Europe Push

Jan 20 2012 | 12:53pm ET

A Denver hedge fund is planting its rather red-white-and-blue flag in European soil with the launch of a UCITS III-compliant offering.

Independence Capital Asset Partners, working with Switzerland's Prosper, now offers a UCITS version of its North American long/short equity fund. The Prosper Stars & Stripes Fund is managed by ICAP, with Geneva-based Prosper acting as investment adviser and marketer.

ICAP has managed the Stars & Stripes strategy for seven years. The UCITS fund is targeted at European institutional clients, CityWire reports.

"In the current challenging market environment, Prosper Stars & Stripes represents a timely opportunity to capture equity markets upward potential while keeping a safety cushion in case of turbulence," a Prosper spokesman said.

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