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GLG launches Atlas Macro UCITS

GLG Partners LP, Man Group’s newly acquired investment manager, has announced this week that it is launching a UCITS III-compliant variant of its multi-asset, global macro fund. Entitled the GLG Atlas Macro Alternative Fund, it will be managed by Driss Ben-Brahim and GLG’s Chief Investment Strategist, Jamil Baez. Target annualised returns on the Dublin-domiciled fund will be 10-15 per cent with a similarly benchmarked volatility. As is common with UCITS, the fund will look to employ a similar, rather than exactly replicated, strategy to the Cayman Island offshore Atlas Macro Fund. Global Macro funds have the greatest flexibility in terms of asset class and financial instrument selection. This latest UCITS (number eight in the GLG range) will give investors exposure to global investment opportunities, although Ben-Brahim will select thematic, largely liquid, trade positions to avoid portfolio complexity. Positions will be selected using extensive qualitative and quant-based models, and will employ the full gamut of financial instruments, from equities and indices through to currencies and bonds, to lock-in gains. The fund has a standard 2/20 fee structure. Commenting on the fund’s imminent launch, GLG Co-Head of Marketing Raffaele Costa said: "The GLG Atlas Macro fund has performed well since launch in early 2009 and demand has been strong for a UCITS version that employs the same investment process under the same leadership. We expect this UCITS fund to be a good proxy for this strategy - with the same objective of delivering high absolute annual returns within an attractive volatility range.”    

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