GLG Partners, the discretionary investment manager of Man Group, has launched GLG Total Return Fund.
The UK domiciled UCITS fund will invest across a highly diversified range of liquid asset classes, including equities, FX, sovereign bonds, currencies, credit, rates and commodities.
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Available to investors from 29 July, the absolute return strategy will be managed by the Macro and Relative Value (MARV) team, headed up by Jamil Baz and Sudi Mariappa.
GLG Partners said that strategic calls will be made by an investment committee, chaired by Baz, while James Ind, who recently joined GLG from Russell Investments, will be responsible for on-going portfolio management.
"Offering daily liquidity and operating within a strict risk framework, the team will seek to achieve Libor +5% over rolling three-year periods, with typical volatility of approx. 7%," GLG Partners said in a statement.
The annual management charge for the fund is 0.75%; there is no performance fee.
Richard Phillips, head of UK retail at Man, said: "The GLG culture is one of delivering absolute returns and the GLG Total Return Fund will harness this expertise, as well as leveraging our proven track record as a multi-strategy firm, to create and enhance long term wealth for clients.
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By GlobalData"The portfolio will be managed by a single investment team with the flexibility to invest wherever real value can be found and the freedom to seek risk-controlled profits from market dislocations. We believe this flexibility and the strength of the team behind the strategy will appeal to institutional and retail investors seeking a compelling alternative to the existing propositions in this space."
