Sabre Fund Management is to launch a Ucits III fund, with daily liquidity, to allow access to the returns of its equity market neutral strategy, the Sabre Style Arbitrage Fund.
The market neutral fund will invest in stocks chosen from a universe of 1,500 names and capture returns that are derived from the longer term effects of economic cycling plus returns generated by short term investor behavioural activity.
The fund’s target return is eight to 12 per cent per annum.
Sabre has been trading hedge fund strategies since 1982, and quantitative strategies since 1997.
Its Sabre Style Arbitrage Fund has been available as a Cayman offshore fund since 2002, and will be available as a Ucits for the first time.
Melissa Hill (pictured), the managing principal of Sabre, says: “We are very excited about being able to offer our fund via a Sicav. We have been approached by a number of investors who are interested in accessing our strategy in a Ucits format, and we hope that this product will continue increasing investor demand for funds that target consistent attractive returns with low volatility.”
The new fund will be set up as a Luxembourg Ucits III Sicav in partnership with Luxembourg Financial Group.
Gareth James, head of hedge fund solutions at LFG, adds: “We expect big interest, as we have been able to keep the fund true to its original investment strategy, but with the added benefits of secure custody, risk management and liquidity that Ucits III offers.”