05. July 2011

Merchant House launches Russian long/short fund

Business Week

Merchant House Group has unveiled the Russian Phoenix Ucits fund, taking long and short positions in Russian equities. The fund, which launched with $40 million of assets under management, replicates the Spectrum Russian Phoenix fund, a long/short strategy offered by Spectrum Partners Group. The strategy uses active stock-picking to identify opportunities, mainly in large-cap equities traded in the markets of former Soviet Union states. The fund, launched on the firm?s Ucits umbrella platform, offers weekly liquidity and is available in dollars, euros and sterling, with a minimum investment of 20,000 in the respective currency for retail. As part of the Ucits platform, the fund is the first in a range of five proposed funds by Merchant Capital, who aim to provide the remaining four before October. George Cadbury, director of Asset Management for Merchant, said: ?The consistent growth of our Ucits platform is extremely exciting as we continue to look for compatible and innovative strategies with great track records. Spectrum is one such firm which we believe can successfully replicate its offshore product in an onshore regulated structure.? Merchant also recently acquired the structured products book from Keydata and has launched a dedicated sales team to increase awareness of its offering among advisers. http://citywire.co.uk/wealth-manager/merchant-house-launches-russian-long-or-short- fund/a505953

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