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Merchant Capital offers Russian long/short fund

Merchant Capital has launched a Russian long/short equity, Ucits-compliant fund.


The Russian Phoenix Ucits fund, which soft launched in June and has $40m in assets, is a weekly liquidity version of an existing long/short product managed by Spectrum Partners Group.

According to Merchant Capital, the fund is managed using a thematic investment approach with active stock-picking. It predominantly invests in large-cap equities actively traded in the markets of states of the Former Soviet Union (FSU).

Russian Phoenix is targeted at both institutional and retail investors and features US dollar, euro, and sterling share classes. The retail share class on the fund has a minimum investment of 20,000.

The fund is the first in an intended series of five launches on Merchant’s Ucits platform, all of which are expected to begin trading before October 2011.

Merchant’s platform allows asset managers to launch Ucits-compliant investment vehicles, whereby Merchant is responsible for ensuring compliance with Ucits rules.

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