Merchant Capital has launched a Ucits platform that aims to provide hedge fund managers of all sizes with a cost-effective vehicle for running their own Ucits III funds.
Merchant is in the process of signing up appropriate distributors in both the retail and institutional market to help clients get access to the USD7trn Ucits market.
Tressis, a Spanish distributor of investment funds, structured products, fixed income and other financial products, has selected Merchant Capital as its Ucits III umbrella provider. The company is due to launch a European equity long/short strategy on the platform.
Tressis has over EUR1.7bn of assets under distribution, of which EUR600mare under direct advisory contracts. Tressis has a network of IFAs throughout Southern Europe and Latin America.
José Miguel Maté (pictured), chief executive of Tressis, says: “Merchant Capital was selected on the basis of being able to deliver exactly what was required for Tressis’s first venture into Ucits funds, including meeting a tight deadline for launch.”
Merchant Capital will supply hedge fund managers with all the controls and systems required to manage a Ucits III fund. As well as risk management and middle office support, Merchant Capital also provides company management, regulatory infrastructure and compliance oversight.
The company will be working closely with PNC Global Investment Servicing, a provider of processing, technology and business solutions to the global investment industry, to provide its funds with administration, custody and trusteeship services.
Mark Mannion, managing director of PNC Global Investment Servicing (Europe), says: "Merchant Capital is providing a vital service to the fund industry to accommodate the specific demands of each individual fund. We look forward to providing them with a range of services that will enhance this initiative."
