Man GLG, the discretionary investment management business of Man Group, has launched a new UCITS compliant fund named Man GLG European Mid-Cap Equity Alternative Fund.
The new UCITS fund will provide risk-adjusted returns via long and short investments primarily in European securities with a market capitalisation of 500m to 10bn.
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The strategy will conduct research and meetings of management teams to deliver returns via stock selection and active portfolio management.
The fund will be domiciled in Ireland and will be managed by GLG Partners with Moni Sternbach, who joined Man GLG from Cheyne Capital in January 2015, as the portfolio manager.
Prior to joining Cheyne, Sternbach has been the head of European smaller companies at Gartmore Investment Management, where he worked from 2002 to 2011.
Sternbach said: "The new strategy fits very well within the Man GLG investment framework and offers significant synergies with the European stock picking team and its sector specialists.
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By GlobalData"We believe the European mid-cap equity market segment has become an increasingly compelling asset class for stock pickers due to poor and worsening sell-side analyst coverage, which provides the potential for us to generate attractive risk-adjusted returns for investors."
