Mygale, the new vehicle for the European-focused event driven strategy that CIO Neil Tofts previously deployed at Deephaven Capital Management, KBC Alternatives, and Merrill Lynch, has launched the Mygale Event Driven UCITS Fund on the MontLake UCITS Platform.
Toftsl has over 19 years' experience in successfully running event driven portfolios and funds. Each of the investment professionals in the Mygale team has worked with Neil over a number of years and specialise in the nuances of European event driven investing.
The Fund is diversified across a number of strategies, including merger arbitrage, catalyst driven investments, relative value and special situations. The team take a sceptical approach to investing, consistently questioning their investment thesis; in-house research is complemented with systematic consultations of the market through industry specialists and strong local broker relationships. They seek situations where there are opportunities of counter bids and bump catalysts, and trades with fundamental value. Initial investment in the Fund is by Old Mutual Wealth's multi-asset unit.
Tofts says: "We are pleased to offer our event driven strategy to a wider audience across Europe through our new UCITS Fund, and I'm excited that we have day one investment from such a respected group as Old Mutual Wealth."
Cyril Delamare, CEO of ML Capital, says: "We are delighted to work with Mygale and Old Mutual to bring this exciting new product to the UCITS market. Neil has proven his event driven strategy over a number of years, and it is sure to be welcomed by European investors."
