Fund launches & closures

Absolute return UCITS version of Russia fund gearing up for launch

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A New York-based investment manager is launching a UCITS-compliant version of its Russian flagship fund.

ED Capital Management specialises in traditional and alternative investments in Russia and the Commonwealth of Independent States and is expected to launch a new long/short UCITS fund in April 2011.

The Luxembourg-domiciled UCITS-compliant SICAV is administered by Alceda Fund Management.

Hudson River Russia Growth Fund will generate returns by implementing an active portfolio management strategy investing both long and short in publicly traded equity and equity-related securities of companies with main business operations in Russia and the CIS.

The fund utilises a value-oriented