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BAML announces three more UCITS on MLIS platform

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Bank of America Merrill Lynch this week announced the launch of three new funds on its award-winning MLIS platform.

Bank of America Merrill Lynch this week announced the launch of three new funds on its award-winning MLIS platform. They include: Perella Weinberg Partners Sustainable Resources Long-Short UCITS fund, TT Financials UCITS fund, and Westchester Merger Arbitrage UCITS fund. That takes the total number of funds on the platform to 14 since its inception, representing USD2billion in AUM. Only last month, US-based Perella Weinberg Partners launched their Tokum healthcare l/s fund. The Sustainable Resources fund, like Tokum, will use a long/short approach to identify global companies operating in the energy, water and agriculture space, as well as service and supply chain sectors. Rob Parsley and Douglas Millett will head up the fund. Rather than investing directly in commodities (forbidden under UCITS rules), the fund will invest in equities linked to scarce resources on the long side and short stocks arising from regulatory and technological disruption.

The TT Financials UCITS fund is the platform’s inaugural financial l/s strategy and will be managed by Mark Eady. The firm’s Investment Director, Donald Pepper, said the sector had the largest price dispersion and as such provided an “excellent opportunity” to generate positive returns regardless of market conditions. Westchester’s Merger Arbitrage UCITS fund will be managed by Roy Behren and Michael Shannon. The strategy will look to take advantage of publicly announced mergers, takeover and corporate reorganisations to generate alpha. Behren expects to continue seeing good investment opportunities in the “months and years ahead”. Speaking on the back of this flurry of activity, BAML’s head of EMEA Fund Solutions, Eric Personne (pictured), said: “The range and diversification of these funds highlights our ability to respond to market trends and satisfy investors’ appetite for new products that meet their investment needs.”  

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