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Veritas to launch Ucits III long short China fund

Veritas to launch Ucits III long short China fund

Veritas Asset Management is to launch a Ucits III long/short China fund to investors at the start of October.

The Veritas China Fund will focus on equities in the China and Hong Kong regions and has been designed to complement Veritas’ existing Asian strategies, which include the Veritas Asian Fund and the Real Return Asian Fund. 

The fund, which will have capacity of up to USD500m, is seeking to achieve long term capital growth with a target return of 15-20 per cent per annum. Targeted volatility will be approximately half of the Chinese market as measured by the MSCI Zhong Hua Index.

The fund will be run by Veritas’ Asian team, headed by Ezra Sun (pictured), and working closely with Raymond Foo in Hong Kong. The fund will have a strong thematic approach focusing on the social, political, economic, cultural and technological factors, which Veritas believes are behind growth in the region. The fund will focus on dividend yield and earnings momentum.

The fund will have daily liquidity and be available to institutional investors, discretionary managers, professional intermediaries, private banks, funds of hedge funds, family offices and high net worth individuals.

Sun says: “We have always seen China as one of our core competences at Veritas. Our decision to launch the Veritas China Fund is to provide investors with a flexible vehicle that offers access to what we believe is one of the most exciting markets for the next decade. At Veritas we have been championing Asia for a long time and with this fund we feel we have created the third string to an Asian Strategy that will maximise the investment potential in the region.

“We are launching a Ucits fund within an environment where greater regulation and liquidity are the strongest drivers. This also gives us the opportunity to make the fund accessible to a wider investor base.”

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