Man GLG Launches $450M L/S Equity Fund Focused on Global Innovation

Feb 7 2017 | 9:35pm ET

Man GLG has launched a new $450 million global long/short equity fund that will specifically target companies and sectors particularly susceptible to change and innovation. 

Named the Man GLG Innovation Equity Alternative fund, the new vehicle is UCITS-compliant and will focus primarily on firms within the consumer discretionary, technology, telecoms and industrials sectors, the company said in a statement, with the aim of identifying companies that are fundamentally mispriced due to market consensus lagging the actual or potential effects of a disruption.

Portfolio manager on the new fund will be Priya Kodeeswaran, who joined Man GLG early last year from Schroders unit RWC Partners. While at RWC, Kodeeswaran managed a similar strategy named the RWC Global Innovation Absolute Alpha fund. He reportedly developed the approach while a partner at Cheyne Capital from 2004 to 2009.

The new fund’s portfolio is expected to contain 60 to 70 global stocks at any given time, the significant majority of which will be liquid large caps listed in Europe, Asia and the U.S. 

“This strategy will offer a compelling proposition for Man GLG’s investors,” said Teun Johnston, CEO of Man GLG, in the statement. “This launch further demonstrates our strategy of hiring exceptional portfolio managers to broaden our strong client offering.”

Man GLG is the discretionary investment management business of Man Group PLC, which traces its roots back to the 1783 founding of a sugar coop and brokerage company. Man managed $80.7 billion in assets at the end of September 2016 and is the largest hedge fund manager in the world.  

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