Wed, 15/02/2017 - 14:22
Heptagon Capital has launched three new UCITS funds for US-based managers via it’s USD2 billion Irish UCITS fund company. This takes to 11 the total number of strategies now available to UCITS fund investors.
December manager launches resulted in a raise of USD145 million for the Emerging Market Equity strategy managed by Driehaus Capital Management in Chicago. In addition, USD25 million was raised for the Driehaus US Micro Cap Equity strategy, which has outperformed in 18 of its 20 years of existence, and whose composite is the top-performing US equity strategy of any style in the eVestment All US Equity Universe over that period.
Driehaus Capital Management is a privately-held asset management firm located in Chicago. Founded in 1982, they have over USD8 billion in assets under management across various strategies.
Heptagon has also announced a new partner in the long-only global equity space, in the form of WCM Investment Management. WCM is an employee-owned asset manager, based in Laguna Beach, California. Founded in 1976, the firm manages over USD15 billion.
January saw Heptagon and WCM successfully launch a USD20M UCITS fund, which is mirroring the USD1.5 billion that WCM manages in their concentrated, global equity strategy. This is a high conviction portfolio of around 30 names, with a bottom-up, low-turnover approach, relying on fundamental analysis. The strategy has produced an annualised return of 9.9 per cent versus 4.5 per cent for the MSCI ACWI GR since inception in March of 2008.
Existing funds within the Heptagon UCITS fund stable have also been attracting solid inflows, most notably the Kopernik Global All Cap Equity Fund, managed by renowned value investor, Dave Iben, based out of Tampa, Florida. Assets in that UCITS fund have risen to USD320m, aided by a 52 per cent rise in 2016. Total assets in this strategy recently surpassed USD2 billion, but whilst Kopernik have announced plans to soft close the US Mutual Fund channel, the UCITS fund vehicle remains unaffected and open for investors.
Heptagon has made two new hires for their London office in order to assist with the expanding institutional sales effort within the UK and European markets. Michael Daly has joined as a Vice President after five years at AllianceBernstein, along with David Bloch, a family office investment professional with previous roles in Copenhagen and Zurich.
Heptagon’s Managing Partners, say: “We are delighted that WCM and Driehaus have chosen Heptagon to be their partner for these distinguished investment strategies. At a time of increasing moves toward passive investment methods, we remain committed to finding demonstrably active managers, with peer-leading Active Share levels versus their indices. We are pleased that our clients, as well as the broader UCITS fund investor base, will now have access to the significant investment capabilities of two more such asset management houses, both of whom have earned considerable respect in the US and across the wider global investment community”.
Heptagon Capital LLP was founded in 2005 by former Morgan Stanley directors, including Eran Ben-Zour, (pictured) Tarek Mooro and Fredrik Plyhr. Heptagon caters to institutional and Ultra High Net Worth investors, providing them with creative, class-leading investment ideas and risk management, across traditional and alternative asset classes.
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