GLG temporarily closes European Alpha Alternative fund

GLG Partners will close its European Alpha Alternative Fund at the end of June.


Launched on 23 June, 2009, the fund has now reached $1bn in assets under management so its managers, Philippe Isvy and Pierre Valade, have decided to call a temporary halt to accepting new money. It reached this mark having held just over $400m at the start of this year.

The Dublin-domiciled fund is long/short market neutral, investing primarily in continental European equity markets (mainly French), targeting absolute returns of 10% per year net of fees with low volatility.

It follows a fundamental investment strategy using technical analysis and s focused on an investment universe gathering between 300 and 350 large and mid-cap stocks, the average holding for which is 40 days.


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