ML Capital, investment manager to the MontLake UCITS Platform, has launched the North MaxQ Macro UCITS Fund.
North Asset Management, a London based independent alternative asset manager, has managed the North MaxQ Macro investment strategy for more than 10 years.
The mandate is discretionary global macro, targeting a through cycle absolute return in excess of 10 per cent with 65 per cent of the risk typically allocated to countries within the European time zones. This strategy has been successful in the last few years, with fund returns of 25.2 per cent in 2011, 15.5 per cent in 2012 and 8.19 per cent in 2013.
Founding partners Nick D'Onofrio, George Papamarkakis and Belinda Godwin have committed their own capital to both the firm and fund.
Cyril Delamare, CEO and co-founder of ML Capital, says: "We are pleased to announce the launch of the North MaxQ Macro UCITS Fund on the MontLake UCITS Platform. The North MaxQ Macro UCITS Fund is yet another interesting product and new strategy on the MontLake UCITS Platform and we're excited to welcome it on board. We wanted to work with North, not only due to their impressive track record, but also the experience of their team, who have a clear vision and strategy. Global macro discretionary is under-represented in the UCITS sphere, and we feel there is a lot of demand for it which is still untapped. This is a fund with significant potential and we are confident of the long term performance for this fund on the MontLake UCITS Platform."
D'Onofrio says: "We are happy to have become a part of the MontLake UCITS Platform and we are looking forward to working with the team at ML Capital. MontLake is a leading UCITS platform for the alternative asset management industry and it made a lot of sense to partner with them. Their knowledge of regulations and their history of success with a diverse set of funds makes them the right company to work with to help us navigate the increasingly-complicated European fund marketplace. We feel our fund occupies a unique space in the marketplace in terms of alpha return generation and we are confident that our partnership with ML Capital will help to propel the fund to new heights in 2014 and onwards."