UK-based Toscafund Asset Management has teamed up with Irish manager ML Capital to launch a global long/short equity Ucits fund.
The Tosca Ucits fund will be hosted on ML’s MontLake Ucits platform which provides investors access to a range of Irish-domiciled investment products.
According to Tosca, the fund will aim to replicate its first offshore Tosca LP fund which invests primarily in equities and employs what it terms as “deep dive, fundamental analysis”.
The fund will be managed by Johnny de la Hey, who has been at Tosca since December 2008.
“Recent market moves mean we launch the fund with an opportunity set which combines deep value rehabilitating incumbent businesses and genuine secular growth in newer technologically driven businesses,” he said.
“From our long partnership with Toscafund we are delighted to support them for the launch of Toscafund’s second UCITS launch on our platform and bring to our European investor base this unique product,” added Cyril Delamare, CEO of ML Capital.
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