Launches & Closures

GLG launches eighth UCITS hedge fund


GLG Partners is launching a Dublin-domiciled UCITS version of its offshore multi-asset global macro fund strategy.

The GLG Atlas Macro Alternative Fund is run by portfolio manager Driss Ben-Brahim and GLG’s chief investment strategist Jamil Baz.

Raffaele Costa, co-head of marketing for GLG

The fund, a sub-fund of GLG Investments VI, will employ a similar strategy to the Cayman-based GLG Atlas Macro Fund, and target an average annual net return of 10% to 15% per year with annualised volatility of 10% to 15% over time.

The offshore fund was incepted in February 2009 and this year, to August 2010, has returned 21.22%. Last year the fund was up 5.75%.

Because of investment