Both the Ader Long/Short Ucits Fund and Goldwinds Global Macro Ucits Fund will launch as sub-funds. The former’s launch is targeted for the start of December and the latter is targeted for the start of February.
The MontLake Ucits platform provides a structure for hedge funds to come onshore within a structure that retail investors can understand and trust.
The platform currently has three funds on it: the Pegasus Ucits Fund, Skyline Ucits Fund and Dunn WMA Ucits Fund.
ML Capital Asset Management was set up almost three years ago by CEO Cyril Delamare and Chairman John Lowry who had both worked at Tara Capital a global distributor of hedge funds previously.
Delamare said: "There was a need for transparency and liquidity, post-Madoff investors needed to be reassured. Ucits was the way forward and really will bring hedge funds to the mainstream."
Investors have traditionally been wary of hedge funds because of their lack of liquidity and breach penalties if money is withdrawn without a (typically) 30-day notice period.
"Ucits by nature requires liquid portfolios and transparency of position and size," explains Delamare.
He said a hedge fund manager can look at his portfolio and strategy and see whether there are basic rules of Ucits that would hurt his performance and if not, the product can be adapted to fit Ucits requirements.
One of the planned new additions to the platform, the Ader Long/Short Ucits Fund is based in New York and focuses on a long/short US equity strategy.
Ader Investment Management will act as the sub-investment manager and the launch is still subject to regulatory approval by the Central Bank of Ireland, since the fund will be Dublin domiciled.
The fund’s investment approach looks at a universe of 700 companies in the consumer, financial services, industrial and technology sectors which are considered the specialities of Jason Ader the portfolio manager.
The launch of Goldwinds Global Macro Ucits Fund launch on the Montlake Ucits Platform is also subject to regulatory approval. The fund will follow a global macro strategy across all asset classes through a top-down approach.
Access to all current funds on the MontLake Ucits Platform is available through Novia and Transact, among others. The firm will be seeking to make the two future additions available through these channels also.
