Launches & Closures

NY hedge fund manager unveils UCITS vehicle for event driven strategy

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A New York-based hedge fund manager, Para Advisors, has revealed a UCITS version of its flagship event driven fund.

The Para International UCITS Fund is expected to go live on 1 July 2011 – subject to regulatory approval.

The UCITS fund will be managed in the same investment style as Para’s flagship fund, an event driven multi-strategy fund that has an annualised compounded net return of 11.5% since its inception in 1991, according to a statement.

The new fund will be placed on the on the MontLake UCITS Platform by ML Capital. 

Ned Sadaka, president of Para Advisors  which has