CastleRock launches UCITS hedge fund to compete with long-only counterparts

Mon Jan 10, 2011

CastleRock Asset Management is the latest US-based manager to launch a UCITS compliant hedge fund. Joy Dunbar, editor of Absolute UCITS, speaks with the asset manager’s New York-based founder, Paul Tanico, about the launch of the fund next month.

Paul Tanico, founder of New York-based CastleRock Asset Management, says his firm’s  new UCITS hedge fund is competing with funds from the traditional long-only world.

The institutional share class of the fund launches on 1 February. CastleRock US Liquid Equities is a Luxembourg-based UCITS III compliant version of the portfolio manager’s flagship fund, CastleRock Partners. It is a research-driven equity strategy that invests in US companies with $1 billion plus market capitalisations and the portfolio consists of 30 to 50 long stock positions.

Paul Tanico from CastleRock Asset Management

According to Tanico, CastleRock is the first manager to launch a US long/short equity UCITS fund in the market with a wholly independent structure. The SICAV launches in partnership with Luxembourg Financial Group.

He says: "We are unique because we are one of the first UCITS...

ISSN: 2151-1845 / CDC10004H

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