James Williams, Hedgeweek

Nedgroup Investments selects Citi for new UCITS fund… Silvaris Capital Management to launch fund on Alpha UCITS platform…

Morgan Stanley this week announced the launch of the MS Nezu Cyclicals Japan UCITS Fund on its FundLogic Alternatives plc platform.

The Fund provides exposure to Nezu Asia’s equity capabilities and invests across Asia in a long/ short format with a clear focus on Japan. This latest fund addition brings total assets under management on the FundLogic platform to more than USD2.8bn and further expands its suite of Asian equity strategies.
 
Nezu Asia Capital Management is a Hong Kong-based Pan Asia equity focused hedge fund
manager, that runs various strategies with diverse geographical, sectoral and style biases. It has developed a unique cyclical sector expertise through decades of on the ground experience. It was founded in 2000 and currently has over 40 employees, with staff based in Hong Kong, Singapore and New York, as well as a research presence in Tokyo.
 
“We are proud to provide UCITS investors with access to Nezu’s expertise in Japanese equities”, said Stephane Berthet, Head of the FundLogic Alternatives platform. “This strategy seeks to generate performance through focused and disciplined fundamental stock picking in Japanese cyclical sectors. We believe it will complement our existing offering by expanding our coverage of the Asia Pacific region.”
 
Commenting on the launch, Fuyuki Fujiwara, CFA, Fund Manager and Partner at Nezu Asia Capital Management, said: “We are delighted to partner with Morgan Stanley and we look forward to leveraging their expertise in the UCITS market. We are confident that the FundLogic platform’s operational and risk management expertise will enable UCITS investors to efficiently gain exposure to our trading strategy.”
 
Silvaris Capital Management LLP is preparing to launch a UCITS version of its global equity long/short strategy on the Alpha UCITS platform run by London-based Alpha UCITS Ltd, it can be revealed.
 
Silvaris was set up in April 2013 by Eric Halet, co-founder and co-CIO of Algebris Investments. Silvaris' strategy is a global diversified equity long/short strategy offering asymmetric returns and capital protection.
 
The Silvaris strategy has returned 4.8 per cent year to date and 19.8 per cent since inception with a volatility of 8.7 per cent. The strategy targets global equities. Typical geographic distribution in the portfolio is 50 per cent Europe, 10 per cent North America, 20 per cent Japan and 20 per cent in Global Emerging Markets.
 
The strategy is now set to be made available to investors in a UCITS format.
 
“This is an important moment for Silvaris to launch a UCITS version of our successful investment strategy. We recognise that European investors prioritise the UCITS format and we are keen to develop relationships with European investors.
 
“I think Silvaris offers an attractive combination of variable net exposure, geographical and sector diversification through a proprietary selection of single stocks and with risk parameters that aim to protect capital and offer asymmetric returns. In that sense I am pleased to offer a true "old school" style hedge fund product in a UCITS format to investors,” said Eric Halet.
 
Stephane Diederich established Alpha UCITS Ltd. in 2009. The company positions itself as a specialised structuring and distribution platform for UCITS funds launched by blue chip hedge fund managers.
 
Speaking about the impending launch, Diederich commented: “Silvaris organised a very thorough due diligence in order to launch its first UCITS fund and we are very excited that Silvaris has chosen Alpha UCITS as its partner.”
 
The Silvaris UCITS fund was filed in July with the CSSF and will launch later this year subject to regulatory approval.
 
Nedgroup Investments has selected Citi to provide a full range of investor services for the Nedgroup Investments Funds Plc., a recently authorized Irish-domiciled UCITS fund.
 
Under the terms of the mandate, Citi will provide trustee, custody and fund administration services. Citi also provides an integrated range of investor services for the Nedgroup Investments MultiFunds Plc., also domiciled in Ireland.
 
Pat Curtin, Citi's Head of Global Fund Services, said: “We are delighted to expand our existing relationship with Nedgroup Investments. This new mandate is further testament to the strength of our investor services platform and we look forward to leveraging our UCITS expertise as well as the breadth of Citi's proprietary network to support Nedgroup Investments' growth objectives and distribution needs."
 
Andrew Lodge, Managing Director of Nedgroup Investments (IoM) Limited, added: "As our UCITS product offering continues to grow, we are pleased to gain further efficiency by consolidating our assets with a single fund service provider. We are confident that Citi's scalable platform will help support our expansion plans while maximizing returns for our investors."
 
Nedgroup Investments Limited was established in the Isle of Man in 1992 and is part of Nedbank Group, one of South Africa’s largest banking institutions with AuM in excess of USD20bn.  

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