New York-based investment adviser Enso Capital Management and UBS Fund Advisor, an indirect subsidiary of UBS, have created a joint venture, UBS Enso Management, which will act as investme
New York-based investment adviser Enso Capital Management and UBS Fund Advisor, an indirect subsidiary of UBS, have created a joint venture, UBS Enso Management, which will act as investment adviser of the UBS Enso Fund, a closed-ended investment company.
The UBS Enso Fund is available to UBS clients who meet the requirements for a qualified client under Rule 205-3 of the Investment Advisers Act of 1940. UBS Enso will invest both long and short in a broad range of global equity securities and aim to achieve consistent risk-adjusted returns that are uncorrelated to both general market indices and hedge fund indices, while preserving capital and minimising downside risk and volatility.
‘We are excited to be aligning Enso with the exceptional wealth management platform at UBS,’ says Enso chief executive and chief investment officer Josh Fink. ‘Partnering with UBS, a recognised leader in management and distribution with more than USD100bn in alternative investment assets, creates a unique opportunity to expand our investor base.’
Stephen Roussin, who as head of investment solutions for UBS in the US is in charge of the unit responsible for the manufacturing and distribution of its alternative investments platform, says: ‘Enso’s ability to source off the beaten track global investment ideas will create unique investment opportunities for UBS clients.’
Within the joint venture, portfolio managers from Enso will provide day-to-day management of the fund’s investment portfolio while UBS staff will oversee their activities. In managing the fund, UBS Enso’s managers intend to source alpha-generating, longer-term investment ideas through rigorous primary research and intensive travel and through Enso’s networks.
The investment team will seek to identify unusual investment ideas in niche industries that may be overlooked by typical analytical methods, marrying idea sourcing with industry and company analysis. A global perspective will allow the investment team to compare sub-industries across different regions of the globe.
Founded in 2002, Enso invests in both public and private companies globally, with more than USD600m in assets under management. Around two-thirds of the portfolios Enso currently manages are allocated outside of North America.
