LONDON, September 20, 2010 /PRNewswire/ -- ML Capital Asset Management (ML Capital) announced today that the first manager to launch on the Montlake UCTIS platform will be Clareville Capital Partners LLP, the firm founded by David Yarrow. The fund will commence trading on October 1, 2010.
David Yarrow and Angus Donaldson will co-manage a UCITS compliant derivative of the 13-yea- old Pegasus Fund, which employs a UK Long/Short equity strategy. Since its inception in 1997, the Pegasus Fund has built up a strong investment track record.
Commenting on the launch, John Lowry, Chairman of ML Capital said:
"The UCITS revolution allows investors to access managers who can actively short stocks and hedge a portfolio, however managers with long and successful experience of running equity hedge funds are in short supply. The Pegasus fund has been running for over a decade and has always been run in line with the UCITS principles, which is very comforting to our investors.
"Yarrow and Donaldson's investment style will appeal to a lot of our investors. Their strong performance in upwardly trending markets and excellent downside protection in perilous markets is demonstrated by their track record. This is exactly what the alternative UCITS solution is looking to provide to investors and is why we believe that Clareville Capital is the ideal launch manager for the Montlake UCITS platform."
Angus Donaldson added that:
"A UCITS compliant version of the Pegasus fund is a natural next step for us. Pegasus has always offered investors a high level of liquidity, transparency and stable returns over a variety of market conditions. We are delighted that ML Capital have appointed Clareville Capital to be the launch manager of their new UCITS platform. This is a key launch for our business.
"The past 10 years have illustrated the limitations of traditional "long only" equity investing. All investors should have the opportunity to protect themselves from market volatility by investing in regulated hedge funds. However, many of the managers who have launched alternative UCITS products have found that they have weak brand awareness outside of the hedge fund world. This applies not just to smaller boutiques but also some of the very largest hedge fund houses.
"While there are today a plethora of bank controlled platforms available, we were looking for a different solution, one with all the clear benefits of a strong platform with the added key factor of a real and widespread distribution capability. A link-up with a powerful distributor like ML Capital was an easy decision for Clareville which is and is likely to remain a focused boutique sized investment management business."
About ML Capital
ML Capital is an independent and privately owned financial management company, which specialises in providing a range of alternative investment solutions for its global client base of institutions, private banks, retail distribution organisations, wealth management advisors and family offices. ML Capital provides a truly global service for its clients from its headquarters in Malta and operations centres in Geneva, London and Dublin.
Our senior partners have a combined experience of over 80 years in the investment management industry in key areas incorporating manager due diligence, portfolio management, operations and risk management.
For more information on ML Capital please visit our website http://www.mlcapital.com
About Montlake UCITS Platform Plc
The Montlake UCITS platform Plc, domiciled in Ireland and regulated by the Irish Financial Regulator provides investment managers with a turnkey solution for launching a UCITS fund under its umbrella structure. Typical time to market is 6/8 weeks with the platform offering immediate access to a wide range of investors through ML Capital's distribution network.
Funds placed on the platform by ML Capital will benefit from top tier service providers including CITI for custody, administration and trustee services, KPMG for audit and Carne Financial for oversight and directorships. ML Capital has also ensured that managers utilising the Montlake UCITS platform will have unfettered access to a network of the leading prime brokerage firms.
For more information on the platform please http://www.mlcapital.com/about-montlake
About Clareville Capital Partners LLP
Clareville Capital is an independent hedge fund manager. It was founded in 1997 to run the Pegasus Fund which it still runs. The Pegasus fund has over 230 investors ranging between institutional investors, family offices and high net worth individuals. The Pegasus Fund aims to provide stable returns across all market conditions and has provided an annualised compound return of over 11%.
The partners have over 40 years of investment experience between them and are well supported by an experienced and diverse board. The Pegasus fund is one of the longest standing hedge funds in its space and has succeeded in providing steady returns to its investors over the last 13 years.
Clareville Capital is regulated by the FSA and is a signatory to the HFSB.
For more information on Clareville Capital please visit our web site http://www.clarevillecapital.com
Media enquiries: Robin Dhara, PR, Tel +447-080-7752 Email. Robin@red-robin.co.uk
SOURCE ML Capital Asset Management