Paris firm Lutetia steers steady course with UCITS-compliant event/merger arb strategy

Thu Jan 26, 2012

Jean-François Comte and Fabrice Seiman
Lutetia Patrimoine, the Europe and North America-focused event-driven fund managed by Paris-based Lutetia Capital, has just recently passed the two-year mark and has produced a positive annualised return since launch in a difficult period for event-driven managers.

The $100 million fund is one of only a few event-driven strategies to have been structured under UCITS III regulations, and co-founder Fabrice Seiman believes the firm is in a good position to capitalise on investor interest in event-driven strategies.

Lutetia Patrimoine is focused entirely on opportunities in mergers and acquisitions. The portfolio comprises two sub-strategies managed in separate books: a highly qualitative classic merger arbitrage strategy and a fully hedged pre-event book.

The fund launched at the tail end of 2009 and went on to return 5.59% in 2010. It made a modest loss of 0.34% last year, for the most part preserving capital in an uneven year...


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