Sciens Fund of Funds Management, part of the Sciens Capital Management Group and provider of single- and multi-strategy funds of hedge funds and managed account services, has launched the CCA Event Driven Fund on the Sciens Managed Account Platform (MAP).
The fund follows a liquid global equity event-driven investment strategy that seeks to generate absolute returns with low downside volatility and low correlation to the markets.
It opportunistically invests in corporate situations involving both “hard” and “soft” catalysts, including announced mergers, spinoffs, holding companies/stubs, restructuring, litigations, regulatory changes, IPOs/capital raising events, and companies exploring strategic alternatives.
The strategy maintains a conservative approach to both portfolio and risk management and has assets under management of USD561.1m as of 31 August, 2012. The new “cell” is open to all current and new investors on the Sciens MAP.
Stavros Siokos (pictured), chief executive of Sciens Alternatives Investments, says: “CCA’s Event Driven Fund is a significant addition to the Sciens managed account platform, offering investors access to one of the industry’s most respected names and highly regarded investment teams. With the team’s extensive experience in evaluating the risk of firms undergoing transformation, the fund offers solid annualised returns, low downside volatility and low correlation to the markets.”