A large unnamed retail asset manager in the UK has signed a distribution agreement with the firm according to George Cadbury, a co-founder of the asset management division of Merchant Capital alongside Christopher Day.
Day and Cadbury began developing the Dublin-domiciled UCITS III umbrella in September 2009 when the pair joined Merchant. The platform was launched in January this year and the Merchant European Equity Fund and the Galaxy China Opportunities Fund are under its umbrella. The duo came from PCE Investors, a business that provided all middle and front office systems as well as regulatory cover for hedge fund firms.
Cadbury says: “The umbrella allows us to offer fund managers around the world a UCITS solution. We are working closely with BNY Mellon, Carne Global and we can deliver a cost efficient solution for anyone looking at using the UCITS wrapper for their hedge fund....