Geneva-based Union Bancaire Privée (UBP) and alternative investor Cheyne Capital Management are collaborating on an “equity arbitrage” product to be launched in a Ucits format.
The fund – whose full name is U Access (IRL) Cheyne Arbitrage Ucits – will be sold on UBP’s alternative Ucits platform and managed by Pierre di Maria, head of event-driven strategies at Cheyne Capital.
It is described as a pure market-neutral strategy with low market beta, and as a potential substitute for fixed income as part of investors’ portfolio construction.
Nicolas Faller, co-chief executive asset management at UBP said: “We see a clear need among clients to complement liquid fixed income with little correlation to traditional asset classes.”
UBP now has four funds on its alternative Ucits platform, with assets of 700 million Swiss francs (€588 million) in total.
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