Man launches first multi-strategy UCITS fund combining AHL and GLG strategies

Man Group plc (“Man”) has successfully launched the Man GLG Multi-Strategy fund – the first combined UCITS fund to result from Man’s acquisition of GLG Partners, Inc. in 2010, which created the world’s largest independent alternative asset manager.

22 June 2011

The open-ended fund, which offers daily dealing, has raised more than €100m in commitments. It is designed to give both retail and institutional investors access to a complimentary portfolio of 10 to 15 Man-run UCITS funds, including industry-leading GLG and AHL strategies, as well as Man’s Man Systematic Strategies, Man Convertibles and Ore Hill strategies.

A dedicated investment team, led by Luke Ellis, chief investment officer of Man’s Multi-Manager division, will actively allocate to the strategies and group them into three core portfolio components – equity long/short strategies (50-80%), risk seeking strategies (10-35%) and diversifying strategies (5-25%) – with risk capital judiciously allocated between them.

This latest open-ended fund has a low minimum investment of €1,000 and no extra layer of management or performance fees beyond the underlying fund fees.

Luke Ellis said, “This multi-strategy UCITS fund incorporates the best investment talent from both GLG and AHL teams, with a fund structure that so many investors in Europe and beyond are looking for. We’re encouraged by initial fundraising and are looking forward to driving returns for our clients through this new innovation.”

The fund was developed by Man’s Multi-Manager, product structuring, financing and legal teams, drawing on their collective skillset and knowledge in delivering transparent, liquid, onshore investment solutions. It follows the launch of IP 220 GLG Ltd in February - the first new structured product to combine AHL and GLG discretionary strategies and the latest addition to Man’s highly successful IP 220 range.

Contact

  • Global Communications

    Rosanna Konarzewski
    Global Head of Communications
    Tel: +44 (0) 20 7144 1000
    Clio Adam
    Global Communications Manager
    Tel: +44 (0) 20 7144 1000
  • United Kingdom

    Michael Turner
    Finsbury - UK
    Tel: +44 (0) 20 7251 3801
  • US

    Megan Ingersoll
    Communications Manager Americas
    Tel: +1 212 649-6600
  • Asia

    Scott McFarlane
    Ryan Communication
    Tel: +852 3655 0509
    Carol Park
    Access Communications and Consulting Co. – Korea
    Tel: +82 2 2036 9912
  • Australia

    Paul Cheal
    Honner Media
    Tel: +612 8248 3752

Contacts mentioned herein retain the right to record any telephone calls made to them for training and monitoring purposes.

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