New York (HedgeCo.net) – Merchant Capital Ltd , the UK asset management division of Merchant House Group Plc, has launched the Russian Phoenix UCITS Fund on its UCITS umbrella platform. The hedge fund officially launched on 2nd June 2011 with $40 million of assets under management.
“Merchant Capital was an obvious partner in our pursuit of an onshore version of our large-cap equity long/short hedge fund. Michael Kart, Managing Partner at Spectrum Partners said, “They are able to bring funds to market much quicker than some of the larger platforms and have a good track record specifically with alternative products. We look forward to creating a long-lasting relationship with the firm.”
The strategy follows a thematic investment approach with active stock-picking aiming to identify investment opportunities with a favourable risk/reward profile. It predominantly invests in large-cap equities actively traded in the markets of states of the Former Soviet Union (FSU).
The Russian Phoenix UCITS Fund is available to both institutional and retail investors in US dollar, euro, and sterling share classes with a minimum investment of 100,000 (USD, EUR, GBP) for institutions and 20,000 for the professional retail investor.
The hedge fund is the first in a series of five proposed UCITS fund launches recently announced by Merchant Capital. The company expects all of these to begin trading before October 2011.
Editing by Alex Akesson
For HedgeCo.net
alex@hedgeco.net
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