Caxton's HAWK Goes UCITS

Apr 11 2012 | 12:51pm ET

Caxton Associates has launched a UCITS III-compliant version of its emerging markets hedge fund on Lyxor Asset Management's platform.

The Lyxor/Caxton HAWK Strategy Index Fund is based on HAWK Quantitative Strategies, the $379 million firm led by Caxton partner Jeff Enslin, in which Caxton holds a minority stake. The new fund is a medium-term, trend-following vehicle.

"As a systematic, liquid and non-long biased strategy, the strategy has a low correlation to emerging market long-only, and hedge fund strategies, as well as to other CTAs," Enslin said. "One of our core beliefs, built into the framework of the system, is that EM assets experience both large bull and bear cycles. As a trend follower, the model is designed to attempt to participate with the prevailing price action regardless of the direction."

The HAWK fund is the third single-strategy fund on Lyxor's xor Dimension UCITS platform.

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