Hedge Funds

Merrion launches a UCITS funds to expand outside its domestic market in Ireland

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Merrion has launched an absolute return fund because it wants to expand outside of the domestic market in Ireland with new alternative investment products aimed at the UK and European markets.

The retail potential for hedge fund UCITS is huge, but Dublin-based Merrion Investment Managers is not initially focusing on that area.

Merrion decided to launch a hedge fund, the High Alpha Fund, three years ago. Kevin Gallacher, director of Merrion, the hedge fund returned more than 100% in a negative market environment.

It is the success of this fund that resulted in Merrion wanting to expand outside of the domestic market in Ireland with new alternative investment products aimed at the UK and European markets, which has around €1 billion ($1.3 billion) in total assets under management.

He says: