Morgan Stanley this week announced plans to launch a new equity l/s newcits in partnership with Algebris Investments, focusing specifically on the global financial
Morgan Stanley this week announced plans to launch a new equity l/s newcits in partnership with Algebris Investments, focusing specifically on the global financial services sector. Entitled the MS Algebris Global Financials UCITS Fund, it is expected to start trading today (Friday 7th January) on the US bank’s FundLogic Alternative platform. Morgan Stanley have been running the FundLogic platform since 2006 to manage their structured funds, but in response to the growing newcits universe it decided to launch FundLogic Alternative last summer. The Global Financials newcits becomes the second UCITS-III fund to join FundLogic Alternative following the successful onboarding of Philip Schoenfeld’s Global Events Fund last August. When Shahzad Sadique, ED and Head of FundLogic, spoke to HedgeWeek over the summer, he expected that within twelve months FundLogic Alternative would have EUR1billion to EUR1.5billion in AUM; this latest launch is a step closer towards achieving that target. The actual size of the Global Financials newcits is not known at this stage. Commenting on the decision behind launching a global financial services-focused fund, Algebris Investments’ founding partner, Davide Serra, said that he believed the sector offered many opportunities for a long-short equity manager, adding that the fund was being launched following the successful development of a 4-year research process. “We chose Morgan Stanley as our partner as a result of their robust infrastructure and the strong relationship our respective firms have developed since we founded Algebris,” said Serra.
