Van Eck and BofA Merrill Lynch launch Commodities Long-Short Equity Ucits Fund
Van Eck Absolute Return Advisers and Bank of America Merrill Lynch have launched the Van Eck Commodities Long-Short Equity Ucits Fund.
The fund offers access to Van Eck’s investment expertise as part of Bank of America Merrill Lynch’s Ucits compliant funds platform, Merrill Lynch Investment Solutions (MLIS).
Van Eck, founded in 1955, is a privately held New York-based specialist in natural resource equities and commodities, as well as emerging markets. The firm presently has over 150 employees, with offices in Germany, Switzerland, China and Colombia.
The fund seeks to leverage Van Eck’s hard assets investment team’s knowledge of the natural resources sector - including experience as geologists and engineers - to conduct bottom-up, fundamental research and evaluate underlying risks and opportunities.
The fund attempts to generate alpha through the pairing of its macro views - supported by commodity price projections and industry trend analyses - and on-the-ground company analysis.
The fund was launched on 9 January 2013 on the Ucits compliant Luxembourg Sicav - Merrill Lynch Investment Solutions (MLIS).
Van Eck acts as investment manager to the fund and Merrill Lynch International serves as the sponsor.
Philippe Lopategui, head of the alternative investments funds platform and global financing solutions at Bank of America Merrill Lynch, says: “We are delighted to welcome a partner of the quality of Van Eck to our leading Alternative Ucits platform. The launch of this Commodities Long-Short Equity Ucits Fund continues the investment in the MLIS offering, providing investors with even more choice of alternative investment strategies across our platform. Van Eck has an industry-leading team in the hard assets investment group, and we are excited to be able to bring their expertise to bear in the Ucits arena.”
Jan van Eck, president and director at Van Eck, says: “We are pleased to be working with Bank of America Merrill Lynch to bring this strategy to the Ucits market. Van Eck has managed long-short hard assets strategies for over 15 years and has one of the largest teams dedicated solely to hard assets equity investing. With Bank of America Merrill Lynch’s extensive reach we will be able to offer investors an attractive alternative in the natural resource equity space. It’s a great partnership.”
The fund is a sub-fund of MLIS, a regulated Luxembourg onshore vehicle, which offers transparency and investor protection through the Ucits framework of rigorous risk, diversification, counterparty exposure, liquidity and eligible asset constraints. Processes relating to the running of the fund, including matters such as risk management, independent oversight and protection of assets, have been approved by the Luxembourg regulator.
The fund is available for sale to institutional and retail investors in Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Norway, Portugal, Spain, Sweden, the Netherlands and the UK with a minimum investment size for the retail share classes as low as USD1,000. Passporting to additional jurisdictions is currently in progress. The MLIS funds are not for sale to US persons.
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