Jabre Capital Partners, the Geneva-based hedge fund manager established by Philippe Jabre in 2006, has established a Luxembourg domiciled Ucits umbrella, JabCap (Lux), with one sub-fund, JabCap (Lux) - Global Balanced.
The fund is intended to be the first in a series of Ucits funds to be launched by JabCap.
JabCap has chosen Carne Global Financial Services Luxembourg to assist them in launching the fund.
JabCap says asset allocators are looking for alternative fund products that are risk controlled while at the same time providing attractive returns. Large distributors and the major banks are looking for more alternative Ucits fund products for their asset allocation strategy, for example in the construction of Ucits funds of alternative Ucits funds.
Carne is represented on the board of JabCap (Lux) by Justin Egan, who is managing director of Carne Luxembourg, as chairman and independent director, and Tracey McDermott as independent director.
John Donohoe, chief executive officer of Carne, says: “Carne is delighted to work with a firm as highly regarded as Jabre Capital, a leader in the global alternative investment management industry.
“We are experiencing great interest in what Ucits has to offer alternative mangers and investors. We are also working with many wealth managers who are establishing alternative Ucits products for distribution to their investors, so that they can access steadier and risk controlled returns.
“I see it as part of Carne’s role to educate the global market on the advantages of Ucits funds.”