The Melchior Selected Trust European Absolute Return Fund, managed by Leonard Charlton, was launched in February 2010 and the firm announced on 6 June this year that it was to soft close having reached $500m.
Magnus Spence, managing partner at DSP, has subsequently announced the Ucits III equity long/short fund is to hard close from today with $600m in assets under management.
Spence added: “The team generates substantial returns from short stock selection, particularly in mid-cap companies. By limiting the size of the fund the team will maintain the ability to take positions in their best stock ideas in the size that they want.”
