London-based IKOS Partners today announced that it has restructured its family of funds and listed several of its funds on the Irish Stock Exchange to make them more accessible to institutional investors.
IKOS also announced today that it has increased assets under management by over US$70 million since the start of this year, taking its total assets under management to US$250 million.
The restructuring process involved taking all of the company's funds and bringing them together in a single Cayman registered multi-class feeder fund called IKOS. The new structure defines a separate legal entity for each trading strategy, effectively segregating the trading assets within the fund to achieve zero cross-liability between trading strategies.
Elena Ambrosiadou, Managing Director of IKOS Partners, said: "The new structure streamlines the investment process, enabling shareholders to participate through a single prospectus with a supplementary offering memorandum for each share class. It simplifies the due diligence process and facilitates investor communications."
"It is important to note that the new structure allows IKOS to accommodate growth in capacity and facilitates the incorporation of new strategies. The strategies now include US and European statistical arbitrage, which give IKOS a capacity in excess of US$500 million," she said.
IKOS has also listed some classes of the Cayman fund on the Irish Stock Exchange, namely the IKOS Equity Fund, IKOS Equity Hedge Fund, IKOS Offshore Arbitrage Fund and IKOS Currency Fund.
Ms Ambrosiadou said: "These Irish-listed funds are now available for investment by institutions whose mandates require a stock exchange listing. The listing allows investors to mark their fund investment to market, and also offers increased transparency, plus an additional layer of regulation and reporting."
IKOS was founded by Martin Coward in 1992. It employs a quantitative, systematic approach to price forecasting, portfolio construction and risk management. Its funds include IKOS Offshore Arbitrage Fund, a market neutral long/short equity fund trading since 1995, and IKOS Global Fund, a systematic macro fund trading since 1996.