A fund from GLG Partners has broken through the billion dollar milestone to join the absolute return UCITS billion dollar club.
The GLG European Alpha Alternative Fund is the first absolute return UCITS fund from London-based Man Group, which manages total asset of $71 billion and wholly owns GLG.
The GLG fund reached assets of $1.2 billion at 30 June 2011 up from $470 million at the end of 2010.
Year-to-date to July 2011, the European alpha alternative fund has returned 2.96% and in 2010 it returned 3.05%.
The European equity fund launched in June 2009 and is