UBP Adds New Cheyne Fund To UCITS Platform
Union Bancaire Privée is launching a new strategy on its alternative UCITS platform. Launched in partnership with London-based alternative investment manager Cheyne Capital Management, U Access (IRL) Cheyne Arbitrage UCITS is an equity arbitrage fund. This is the fourth addition to UBP’s alternative UCITS platform, which now has close to CHF 700 million in assets under management.
U Access (IRL) Cheyne Arbitrage UCITS is managed by Pierre di Maria, head of Event Driven Strategies at Cheyne Capital, who has more than 18 years of experience in this asset class and an impressive pedigree, having managed significant assets at Meditor, Highbridge and Lehman. The fund offers daily liquidity and employs an arbitrage approach combining a core yield (Merger Arbitrage) component and an opportunistic (Mixed Arbitrage) element. Managed as a pure market-neutral strategy with low market beta, the fund provides uncorrelated exposure and can act as a fixed income substitute as part of investors’ portfolio construction.
The U Access (IRL) Cheyne Arbitrage UCITS strategy is the latest addition to UBP’s U Access (IRL) Alternative UCITS platform. Other funds available on the platform include:
▪ U Access (IRL) Trend Macro, a discretionary global macro strategy that employs deep fundamental analysis research techniques to capitalise on trends in both developed and emerging markets via investment in a range of liquid markets and instruments (fixed income, currencies, credit, equity indices);
▪ U Access (IRL) Electron Global Utility, a long/short equity strategy that seeks to generate superior risk-adjusted returns via dynamic and opportunistic capital allocations to take advantage of structural changes in infrastructure, utilities and alternative energy;
▪ U Access (IRL) Nexthera UCITS, a long/short equity strategy focused on the global healthcare sector with an emphasis on therapeutics that identifies investment opportunities (both longs and shorts) across market capitalisations and geographies based on thorough scientific and financial analysis.
Commenting on the launch of U Access (IRL) Cheyne Arbitrage UCITS, Nicolas Faller, Co-CEO Asset Management at UBP said: “Cheyne Capital is a very well-established alternative investment manager with a long-running, successful Event Driven strategy. We look forward to our collaboration, especially in the current market environment where we see a clear need among clients to complement liquid fixed income with little correlation to traditional asset classes.”
Jonathan Lourie, Co-Founder, CEO & CIO at Cheyne Capital added: “We are very pleased to have been chosen to run this arbitrage UCITS strategy by such a prestigious firm as UBP. We believe that the strategy is very well suited to today’s increasingly volatile markets, both because of its market neutrality and because end-of-cycle regime changes often provide a tailwind for M&A volumes.”