ML Capital Asset Management has told Hedgeweek in an exclusive that it is preparing to launch a new UCITS fund on its MontLake Platform. The Goldwinds Global Macro UCITS Fund is scheduled to launch on 13 February subject to regulatory approval of the sub-fund and Goldwinds Asset Management Limited to act as sub-investment manager by the Central Bank of Ireland. London-based Goldwinds Asset Management was established by Giovanni Pennetta in September 2007 along with two other partners. Pennetta will co-manage the UCITS fund with Camilla West, a portfolio manager and trader at Goldwinds. In his previous roles Pennetta was a Vice President at Merrill Lynch and a client adviser at UBS Wealth Management. The fund’s investment objective is to generate long-term positive capital appreciation for investors by trading across all asset classes including global equities, fixed income and commodities using instruments ranging from cash equities and bonds through to ADRs, forwards, ETFs, futures and options.

The team will use a top-down macro approach to identify global trends and generate investment ideas using a systematic proprietary model. These ideas are then rigorously researched before the best are used to execute trades. This is, then, a discretionary global macro fund. Speaking to Hedgeweek, Cyril Delamare (pictured), CEO and Head of Global Distribution at ML Capital, said that Pennetta had been running the global macro fund for Goldwinds’ wealth management clients for the past four years but had now decided to roll out the product in a UCITS format to attract additional external capital. “Goldwinds decided to partner with us because of our distribution capabilities and the fact that they wanted to use a platform that would give them the operational support necessary to successfully run a UCITS fund,” said Delamare.