London-headquartered RAB Capital has launched a UCITS III-compliant version of its Cayman Island-domiciled RAB Europe fund (RAB Prime Europe UCITS), which will
London-headquartered RAB Capital has launched a UCITS III-compliant version of its Cayman Island-domiciled RAB Europe fund (RAB Prime Europe UCITS), which will be run in parallel with the Polaris Prime Europe fund following the integration of the Park Place team. The fund will seek to replicate performance of the offshore equity l/s fund. RAB has selected SEB Enskilda’s UCITS platform, SEB Prime Solutions, to support the fund. The platform, launched last September, offers a one-stop shop solution from creating a fund’s legal structure straight through to providing administrative and marketing support services. The bank’s UK co-head of equities, Atilla Olesen, was quoted in the press as saying that the firm was delighted that a quality manager like RAB Prime Europe had decided to select SEB Prime Solutions as their UCITS partner. “With more funds looking to launch UCITS replication funds we see an opportunity to develop our platform even further and help manage these vehicles in a more efficient way,” said Olesen. RAB Capital’s Steven J Solmonson said that there were two key requirements when selecting the platform: firstly, quality back office and clearing support, and secondly keeping operational costs low. “Their pre-packaged umbrella with organisational, administrative and legal support means that SEB are able to bring costs in line with our requirements,” said Solmonson.