GLG Partners, the discretionary investment manager of Man Group, is to launch the GLG Total Return Fund.
Available to investors from 29 July, the absolute return strategy will be managed by the macro and relative value (MARV) team, headed up by Jamil Baz and Sudi Mariappa. Strategic calls will be made by an investment committee, chaired by Baz, while James Ind, who recently joined GLG from Russell Investments, will be responsible for ongoing portfolio management.
Leveraging GLG’s dedicated expertise in fundamental, quantitative and market analysis, the UK-domiciled UCITS fund will invest across a highly diversified range of liquid asset classes, including equities, FX, sovereign bonds, currencies, credit, rates and commodities.
The fund will employ a value-driven investment approach – seeking to exploit absolute, relative and tactical opportunities at both the market and individual security level – within a flexible global strategy that blends top-down macroeconomic views with rigorous bottom-up security selection.
Offering daily liquidity and operating within a strict risk framework, the team will seek to achieve Libor plus five per cent over rolling three-year periods, with typical volatility of approximately seven per cent.
The annual management charge for the fund is 0.75 per cent; there is no performance fee.
Richard Phillips, head of UK retail at Man, says: “The GLG culture is one of delivering absolute returns and the GLG Total Return Fund will harness this expertise, as well as leveraging our proven track record as a multi-strategy firm, to create and enhance long term wealth for clients.
“The portfolio will be managed by a single investment team with the flexibility to invest wherever real value can be found and the freedom to seek risk-controlled profits from market dislocations. We believe this flexibility and the strength of the team behind the strategy will appeal to institutional and retail investors seeking a compelling alternative to the existing propositions in this space.”