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Man launches European long/short fund of funds

Man has launched a Luxembourg-domiciled long/short European fund of funds.

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The Man Long/Short Europe fund is Ucits III compliant and will be managed by Robin Lowe. It will invest in a portfolio of between eight and 12 managers and will employ both top down and bottom up research, selecting the top managers from a universe of over 300 funds.

Man said it decided not limit the universe to only Ucits III compliant funds to offer investors a combination of “balanced, active and thematic investment approaches.”

“By including different investment approaches within the European long/short universe, we are able to capture alpha wherever it occurs throughout market cycles,” said Lowe, who is also head of equities for the firm’s multi-manager business.

Lowe added while there is broadly negative economic data coming out of Europe at the moment as well as an unclear outlook for corporate profits and the threat of disinflation, there is also increasing M&A activity, strong corporate balance sheets and moderate valuations, which he said offer interesting opportunities.

“While long-only managers can suffer in this environment, long short managers can capture dispersion in sideways markets, participate significantly in equity upside and protect on the downside through short-selling and active portfolio and risk management,” he added.

The fund is registered for sale across most parts of Northern Europe and the UK.
 

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