Fund launches & closures Wrappers / Structures

GLG starts UCITS version of high-performing Atlas Macro fund

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GLG Partners is launching a UCITS-compliant version of its high-performing GLG Atlas Macro Fund, managed by portfolio manager Driss Ben-Brahim and the firm’s chief investment strategist, Jamil Baz.

The UCITS III version – named the GLG Atlas Macro Alternative Fund – will employ a similar strategy to the offshore fund, making investments on a global basis across equities, indices, currencies and fixed income. It will target an average annual net return of 10-15% with annualised volatility in the same range.

The Cayman-domiciled original was launched in March 2009 and has performed well since launch. It made 5.75% last year