Funds
Morgan Stanley announced this week the latest addition to its FundLogic Alternatives plc umbrella – the MS QTI UCITS Fund – in partnership with US-based multi-manager, Equinox Fund Management LLC.
Equinox specializes in building portfolios of multiple CTA programs and currently runs approximately USD2billion of nominal assets. The partnership with Morgan Stanley will give investors exposure to leading CTA strategies. The first product to launch is the MS QTI UCITS Fund, which offers access to a systematic strategy designed by Quest Partners LLC, a New York-based CTA.
David Armstrong, Managing Director and Global Head of Fund and Fund-Linked business
Sturgeon Capital has launched the Sturgeon Central Asia Equities Fund, a Ucits hedge fund that will invest primarily in equity securities of companies listed on regulated markets but which have a substantial exposure to Central Asia and the supporting regional macro growth dynamics.
"We have been investing in regional equities, both locally and internationally listed, since the firm was founded. Investors have often asked us to create an equity-only strategy focused on Central Asia and we have always considered doing so since 2006. We have been watching local stocks and markets for over 12 months with a view to launching
Newscape Capital Group has launched its second Ucits fund, the Newscape Diversified Growth Fund.
Following a genuine multi-asset strategy, the fund aims to achieve a consistent double-digit return with single-digit volatility over the longer term, and has an annualised benchmark hurdle of seven per cent.
The fund uses the same portfolio construction and risk management processes employed in Newscape’s Model Portfolio Service (MPS) that has been run by the firm for wealth managers and corporate pensions since September 2009.
While based on the same target risk concept, the fund composes a broad universe of single stocks, bonds, currency
Double Haven Capital Management (Hong Kong) Limited (Double Haven) has acquired the hedge fund platform, DragonBack Capital Limited.


Prior to the acquisition, Double Haven had outsourced its operations, risk and other back office functions to the team at DragonBack. These functions will now all be in-house with the same team joining Double Haven. As a result of the acquisition, the Double Haven group will benefit from the new synergies and efficiencies of having a dedicated operations, risk and back-office team in-house as well as being independently licensed by the Hong Kong Securities and Futures Commission.


Darryl Flint, CEO and CIO
The Alternative Investment Management Association (AIMA), the global hedge fund association, has called for the establishment of a Ucits depositary “passport” regime in its position paper on the proposal for a Ucits V directive.
AIMA says institutions authorised by one European Union country to act as a Ucits depositary should be granted automatic rights to provide the same services throughout the EU. Currently, the directive limits the provision of depositary services to funds located in the same member state as the depositary institution.
Such a Ucits depositary “passport” would allow for cross border provision of depositary services, based on
Salus Capital Partners has provided a USD65m Debtor-in-Possession (DIP) credit facility to HMX Group, a designer, manufacturer and marketer of men’s and women’s business and leisure apparel.
The DIP financing will be used by HMX Group to provide working capital as the company operates under Chapter 11 of the US Bankruptcy Code.
“We are pleased to provide a DIP facility to HMX Group that provides the company with the liquidity, time and a runway to effectuate a transaction that seeks to maximise value for all of the company’s constituencies – its employees, management, shareholders, vendors, and the estate,” says
Vietnam’s Dragon Capital will look to consider converting its Viet Fund Management unit’s five funds, totalling USD120million in AUM, into UCITS-compliant open-ended vehicles whe
SS&C Technologies has acquired Texas-based Hedgemetrix, a boutique full-service fund administrator providing accounting, tax, and consulting services to domestic and offshore hedge funds, private equity funds, funds of funds and their investment managers.
Upon completion of the acquisition Hedgemetrix will operate as part of the SS&C GlobeOp business.
SS&C’s latest acquisition strengthens SS&C’s global fund administration business, SS&C GlobeOp, establishes a presence for the company in Dallas and gives SS&C GlobeOp local expertise to offer fund services in the Southwest region.
“This is an exciting growth story for us,” says Jacqueline Freeman, co-founder, Hedgemetrix. “We are thrilled to
Amundi has extended its range of volatility funds with the launch of Amundi Funds Absolute Volatility Arbitrage Plus.
This Ucits IV-compliant sub-fund of the Luxembourg SICAV Amundi Funds offers investors an original solution, providing diversification and decorrelation compared to other asset classes.
Amundi Funds Absolute Volatility Arbitrage Plus aims to generate an annual performance of over EONIA capitalised four per cent, over a minimum investment horizon of three years and with a maximum risk budget of VaR eight per cent.
Volatility, seen by Amundi as an asset class in its own right, enables performance generation by tapping opportunities arising
Swiss-based Pharus Management has launched Pharus Management Luxembourg SA to manage UCITS compliant SICAVs, specialized investment funds and alternative funds under the Alternative Investment Fund Managers Directive, reported Investment Europe this week.
Funds wishing to take advantage of the European passport will either have to implement complex control mechanisms or outsource them to a management company. Pharus Management Luxembourg, which will target existing SICAVs as well as alternative funds with at least EUR100million in AUM, will act as manager, sponsor, risk manager and distributor. It will also incorporate Pharus SICAV, which manages a suite of 18 funds running approximately EUR210million
