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GLG launches UCITS version of North American Opportunity fund

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Recently acquired Man Group subsidiary, GLG, launched a UCITS III version of its Cayman Island-domiciled GLG North American Opportunity Fund this week, announced MRM-London.

Recently acquired Man Group subsidiary, GLG, launched a UCITS III version of its Cayman Island-domiciled GLG North American Opportunity Fund this week, announced MRM-London. Entitled GLG North America Equity Alternative UCITS, the fund will seek to closely replicate the offshore fund’s equity strategy by employing bottom-up stock analysis. John Gisondi, GLG’s Head of North American Equities, manages the Cayman fund. Given the high liquidity demands placed on UCITS funds, the fact that it will be targeting liquid mid-to-large cap stocks should make it a good fit. Gisondi’s team captures alpha by applying an active trading overlay to provide dynamic market exposure and manage risk – much emphasis is placed on leveraging the team’s highest conviction ideas, said MRM. This latest UCITS becomes the ninth absolute return sub fund launched by GLG under the firm’s Dublin-domiciled GLG Investments VI plc umbrella structure. “The team has a proven track record in generating positive alpha from long and short positions as well as short-term trading opportunities,” said Man’s Head of Sales, Europe & North America, Raffaele Costa. “We believe the fund will prove a popular addition to our fast-growing range of absolute return UCITS funds.”

 

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