Lyxor Asset Management Group (Lyxor) has launched a new alternative UCITS fund, the Lyxor/Bridgewater Core Global Macro Fund, which gives investors access to Bridgewater Associates’ strategies.
The fund, which started trading on 23 September with initial assets under management of over USD600 million, provides a wide pool of institutional investors across various geographies, including Europe, Asia and Latin America.
With more than USD160 billion in assets under management, Bridgewater is a specialist in institutional portfolio management. A natural expansion of the long-standing partnership between Lyxor and Bridgewater, the new fund, which is registered in Ireland, will be managed by Lyxor with Bridgewater acting as a sub-advisor responsible for implementing the investment strategy.
The Fund will provide clients with access to the firm’s long-standing alpha and beta investment strategies in one vehicle. Available through the Lyxor Alternative UCITS platform, the fund marks the first time these strategies will be available in a UCITS structure. The fund offers daily liquidity and has a strong emphasis on risk management and diversification as required by the UCITS format.
Nathanael Benzaken (pictured), Chief Client Officer of Lyxor, says: “The Fund represents a unique opportunity for investors to gain access in a simple way to the fundamental, systematic and diversified investment approach which has been the hallmark of Bridgewater for decades and has provided value through multiple economic cycles. I am honoured and thrilled by this partnership with Bridgewater.”
Kyle Delaney, Co-Head of Client Services and Marketing at Bridgewater Associates, adds: “Lyxor has been a long-time partner of ours, and this new venture is a natural extension of our relationship. This structure provides institutional investors, particularly those outside of North America, with greater access to our distinct investment strategies.”
The Fund is now passported into nine countries (UK, Germany, Spain, Italy, Switzerland, Luxembourg, Belgium, France and Singapore) and is available for a minimum subscription of EUR500,000 (Class I) and EUR250,000 (class A). Not all share classes are available or registered for sale in all jurisdictions.