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Merrion opens up High Alpha Fund

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The Merrion High Alpha Fund reached its three year anniversary on 16 August, having delivered growth of 103 per cent since launch and 26.6 per cent per annum.

Merrion has now decided to market the fund to a wider audience of international professional investors.

There is currently approximately GBP50m invested in the fund. This has been raised predominantly from domestic professional investors including pension funds, corporate funds and high net worth individuals.

The fund is a global macro long short fund designed to deliver strong positive performance with a very low correlation to equity market returns. The fund takes concentrated positions in high conviction stocks to generate returns and makes use of tactical asset allocation between equities and cash to provide capital protection. The strategy does not make use of leverage.

The fund is an Irish regulated qualifying investor fund. Northern Trust has been appointed as independent custodian and administrator. The auditor of the fund is KPMG.

Joe O’Dwyer, managing director of Merrion Investment Managers, says: “The Merrion High Alpha Fund is designed with the capacity to generate high returns, while aiming to preserve capital. It has delivered strong returns, during a period of considerable uncertainty within financial markets. It offers investors the absolute return profile of a hedge fund with the transparency and risk controls of a regulated qualifying investor fund.”

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