GLG has launched a Ucits version of its European long-short strategy, offering retail investors their first exposure to the team behind this approach.
Pierre Lagrange, a partner and co-founder of GLG, Simon Savage, a specialist in active risk management, and Darren Hodges, an expert in options trading, will manage the GLG European Equity Alternative fund.
The Dublin-domiciled fund will be the 10th absolute return Ucits vehicle launched by the company since July 2009.
In using the firm’s European long-short strategy, the fund will focus on sustainable capital growth through stock selection both on the long and short sides and capital protection through effective risk management.
An internal team of specialist book managers are allocated capital through a risk budgeting allocation process, which must be managed in accordance with the fund’s investment conviction and mandate objectives.
Richard Phillips, the head of UK retail at Man Group, which owns GLG, says: “Demand has been strong for a Ucits version of this strategy. This is the first time that retail investors will be able to access the skills of Pierre, Simon and the underlying European team.”