Harcourt AG has acquired a minority equity stake in MSS Capital, which runs the managed account platform underlying the FTSE Hedge investible indices.
MSS Capital is authorised and regulated in the United Kingdom by the Financial Services Authority and manages the hedge fund managed account platform underlying the FTSE Hedge Investible Hedge Fund Index Series. MSS Capital is the FTSE licensed manager of the FTSEhx Fund SPC, whose returns generate the performance of that Index Series. Harcourt provides extensive due diligence services on the hedge funds on the MSS platform.
Harcourt's Managing Partner, Peter Fanconi, said: "The ongoing institutionalisation of our industry necessitates preferred access to transparent capacity. The resulting solution offers superior risk management and insight to the benefit our existing and future institutional clients.
Fanconi added: "Through this transaction, we can not only further enhance our value proposition to these clients, but also enjoy the significant benefits of scale as represented by the FTSEhx Fund SPC."
Harcourt stated: "With this transaction, Harcourt further demonstrates its commitment to active hedge fund solutions based on high degrees of transparency, liquidity, and risk management. Harcourt already is an active user of managed accounts and 3rd party managed account platforms."
Simon Hookway, Director and Co-Founder MSS Group, said: "We are pleased to have Harcourt amongst our shareholder base. Harcourt's decision to take a stake in MSS, combined with its exceptional reputation and institutional quality, fortify our belief that solutions based on managed accounts, whether active or passive, have high appeal to a broad investor base. We look forward to continue to work with Harcourt and are excited about the prospects."
Zurich-based Harcourt AG is a provider of hedge fund solutions to institutional investors. Founded in 1997, the firm is headquartered in Zurich, with offices in New York, Geneva, Stockholm and Bridgetown. With assets under management exceeding USD 3 billion, Harcourt focuses exclusively on hedge funds.