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Man Group launches fettered Ucits fund

Man Group has today launched the first combined Ucits fund since the group’s acquisition of GLG Partners in 2010.

The open-ended Man GLG-Strategy fund has reportedly raised more than £89m ($100m) in commitments and offers investors access to a fettered portfolio of 10-15 Man-run Ucits funds.

The investment team, led by Luke Ellis, the chief investment officer of the multi-manager division, will group the strategies into three portfolio components. These are equity long/short strategies, risk seeking strategies and diversifying strategies.

The weighting spectrum for these three components will be 50-80 per cent, 10-35 per cent and 5-25 per cent respectively.

The minimum investment for the fund is set at €1,000.

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