EEA Fund Management has appointed Oriel Asset Management duo David Urch and Tim Hall and has add their long/short directional UK equity market fund and its long-biased sister strategy to its product range.
EEA said that the high-conviction, multi-cap UK funds have been renamed the EEA Absolute Return Fund and TB EEA UK Equity Market Fund.
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The EEA Absolute Return Fund is a Cayman-domiciled long/short directional equity fund, launched in 2009. It has a bottom-up investment approach, underpinning an active momentum strategy focused on identifying and harnessing positive change in UK-listed companies.
The EEA Absolute Return Fund aims to deliver risk-adjusted returns with low volatility and low correlation to equity markets. The EEA Absolute Return Fund returned 8.9% in its US$ share class in 2012 and year to date is up an estimated 8.22% to the end of September 2013.
The TB EEA UK Equity Market Fund is a UK-domiciled UCITS fund. Since inception in May 2012 the TB EEA UK Equity Market Fund has returned 41.33%, outperforming the IMA UK All Companies Sector average by almost 8%.
Urch is lead manager of the EEA Absolute Return Fund and the TB EEA UK Equity Market Fund, Hall has extensive experience of the UK fund management industry, ranging from UK equity investing through to managing large investment teams and leading client service propositions.
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By GlobalDataSimon Shaw, chairman of EEA Fund Management, said: "We are looking for innovative investment propositions and talented fund managers to complement our existing investment offering. Urch and Hall, and the EEA UK Equity Absolute Return Fund and TB EEA UK Equity Fund, fit these criteria.
"There are many UK equity funds out there but Urch and Hall’s genuinely stand out owing to their distinctive underlying investment philosophy and process, which have generated highly attractive risk-adjusted returns," Shaw added.
