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GLG set to close UK alpha select fund

GLG is to close the Ucits III version of its UK alpha select fund on May 5, 2010, after the fund reached its asset target of £195m.

The fund, which was launched in February 2010, is managed by the UK equity team headed by John White.

The fund mirrors GLG’s existing market neutral, long/short equity strategy and focuses on stock-picking which is backed-up by top-down economic analysis and risk management.

GLG co-head of UK retail Andrew Thatcher says: “For the alpha select Ucits fund to have reached its target less than three months after launch is a great achievement for the team and testament to the strength of its investment process and reputation for delivering strong risk-adjusted returns.”

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