Martin Currie, the active equity manager, intends to launch three Ucits III-compliant absolute alpha funds.
These launches are subject to regulatory approval, with the funds expected to be available to retail and institutional investors from October 2010.
The three strategies to be launched are Japan Absolute Alpha, European Absolute Alpha and Global Resources Absolute Alpha.
All three are based on existing hedge funds and will be managed by the same teams. These will be Luxembourg-domiciled Sicav funds with sterling, euro and dollar share classes. The minimum investment will for each fund will be USD10,000.
Japan Absolute Alpha will be managed by John-Paul Temperley and Keith Donaldson. Both manage the Martin Currie ARF – Japan Fund, the company’s first long/short fund, which launched on 30 June 2000.
European Absolute Alpha will be managed by Michael Browne and Steve Frost. Both joined Martin Currie in July, following the acquisition of the Sofaer Capital European long/short equity business. They have worked together on European equities for over 20 years and have co-managed what is now the Martin Currie European Hedge Fund since 1 January 2001.
Global Resources Absolute Alpha will be managed by Chris Butler and Duncan Goodwin. Butler has been at Martin Currie for 21 years and has managed the Martin Currie ARF – Global Resources Fund since launch in October 2003. Goodwin joined Martin Currie in 2005 and became co-manager of the fund in the same year.
Andy Sowerby (pictured), managing director, sales, marketing and client services at Martin Currie, says: “We have been managing absolute-return strategies for a diverse global client base for over ten years and have invested heavily in the talent required to meet and exceed our clients’ performance goals. In the aftermath of the financial crisis, however, the regulatory map is being redrawn. We expect the demand for Ucits long/short equity to grow and grow. For this reason, and in response to client demand, we are now introducing three of our top funds to our Luxembourg range.”