Old Mutual Global Investors (OMGI) is set to roll out a new long/short UCITS fund in April 2016 that will focus on UK equities outside the FTSE 100.
The new Ireland-domiciled fund, dubbed Old Mutual UK Specialist Equity fund, aims to achieve capital appreciation by taking long and short positions in UK equities, mostly in mid- and small-cap companies.
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The fund will adopt a strategy similar to the company’s existing Cayman domiciled introduced in 2003, and plans to invest in about 80 to 110 stocks.
It will be managed jointly by Tim Service and Luke Kerr.
"Market volatility has increased in recent months, highlighting the potential value of alternative investments within a portfolio. The UK mid and small cap team has built a long and successful track record. This fund offers access to this expertise, with low net exposure to underlying equity markets, and the ability to deliver a return from falling as well as rising individual share prices," Service stated.
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