Advent Planning Q2 Launch of Global Opportunities UCITS Fund

Mar 26 2015 | 10:49am ET

Advent Capital Management is aiming for the second quarter to launch its new UCITS-compliant version of its Global Opportunity Fund.

The New York asset manager announced in late February that it was readying an Ireland-domiciled vehicle complaint with the UCITS IV framework. 

Advent, which manages $8.5 billion in assets, is the latest U.S. alternative asset manager to explore creation of regulated, onshore vehicles that mimic offshore hedge fund strategies. Demand for such regulated access to offshore strategies has been particularly strong in Europe, which has led to a surge in UCITS listings by U.S. managers.

The new UCITS fund will closely mirror Advent’s Cayman-based Global Opportunities Fund, which focuses on credit, event-driven and relative value investments. As an extension of the offshore fund, it will be managed by Advent portfolio managers Odell Lambroza and Matthew Dundon.

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