Stigma Partners launches global macro Ucits III fund
Geneva-based Stigma Partners, the boutique independent asset manager with CHF1.5 billion in AUM, is to launch a new UCITS on 1 October. Titled the Stigma Fund (LUX) – Macro Cyclical Accumulator, this UCITS III-compliant offering will use a global macro investment strategy to generate an absolute return of between 4 per cent and 8 per cent over LIBOR. Global macro funds are the most flexible through their ability to invest across all asset classes using the full range of financial derivative instruments. However, to comply with UCITS regulations, the fund will be restricted in terms of single position weighting (no more than 10 per cent of NAV for unlisted securities) and leverage, and offer regular liquidity. Costas Verriopoulos, with over 20 years’ experience in global markets, will be managing the portfolio. An in-house research team will provide support by focusing on macroeconomic trends and analysis. Stigma Chief Executive, Siamak Siassi, when speaking about the fund’s launch, was quoted as saying: “This new fund will broaden our product offering further while allowing a wider base of investors to benefit from our expertise.” Until the Lux-domiciled fund is registered in Switzerland only qualified investors will be eligible to invest.
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