NewSmith chooses UCITS
Tue Mar 8, 2011
NewSmith Asset Management decided to launch its global long/short equity hedge fund using the UCITS structure because it offers investors increased transparency, liquidity and a high level of regulatory oversight.
NewSmith Global Absolute Return Fund launched in September 2010. It is one of four sub funds under an Irish-domiciled umbrella, which includes a long-only version of the global long/short equities fund and an emerging markets UCITS hedge fund.
It targets a return of 12% to 14% net of all fees. The fund is up 6.5% in the first six months since launch.
London-based Simon Roberts, portfolio manager for London-based...
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