Zadig Gestion Luxembourg has launched a long-only UCITS III fund – the Memnon Fund – to be advised by London-based Zadig Asset Management LLP.
Zadig Gestion Luxembourg has launched a long-only UCITS III fund – the Memnon Fund – to be advised by London-based Zadig Asset Management LLP. The fund is only registered for sale in Luxembourg. It started trading February 1st with USD125million in seed capital and aims to deliver long-term capital growth by investing in European equities using fundamental research and proprietary valuation models to identify the best stocks. Laven Partners helped structure and launch the Memnon Fund. It will target a high water mark of 15 per cent outperformance relative to the benchmark and aims to deliver 10 per cent annualised returns over the long term. No leverage or shorting is used in the fund which offers investors daily liquidity. The portfolio itself is expected to remain small and focused, comprised of just 25 liquid stocks. Banque Privée Edmond de Rothschild Europe is the fund’s custodian and administrator. Zadig founding partner Laurent Saglio (pictured) will advise Zadig Gestion on the fund alongside Vincent Bourgeois.