London-based LNG Capital is preparing to launch a UCITS-compliant version of its flagship LNG Europa Credit Fund reported HFMWeek this week.
London-based LNG Capital is preparing to launch a UCITS-compliant version of its flagship LNG Europa Credit Fund reported HFMWeek this week. The offshore fund, which pursues a liquid credit long/short strategy using a top-down macro process, commenced trading 31 March and is apparently up 6 per cent YTD through September. The onshore UCITS – Europa Corporate Bond Fund – has a USD500million capacity and offers investors the choice of six share classes. Its fee structure is 1.25/20 and liquidity will be bi-monthly. It will initially roll out with USD30million from European family offices, FoHFs, and private banks. LNG’s CIO, Louis Gargour (pictured) and Steven Mitra are the fund’s portfolio managers. Both worked together previously at Rab Capital. “A hedged strategy is vital in today’s volatile market. We apply hedge fund techniques to a long-biased product to protect investors’ returns,” Gargour was quoted as saying.
