Stockholm (HedgeNordic) – Man GLG, Man Group’s discretionary investment management business, has announced the launch of Man GLG Innovation Equity Alternative, a global long-short fund. The new fund, which will be managed by Priya Kodeeswaran, will be available in UCITS format and will focus on opportunities in companies or sectors experiencing change.
Mr Kodeeswaran has more than 20 years of experience investing in innovative companies, an approach he developed whilst a partner at Cheyne Capital and refined during a six-year spell with RWC Partners managing a global long-short strategy focused on innovation (during which the RWC Global Innovation strategy outperformed its reference index, the HFRX Equity Hedge Index). Alongside co-founding Avocet Capital, Mr. Kodeeswaran has also held positions at Deutsche Asset Management, Europa Capital Management.
“Priya has a strong track record of creating value from global innovative equities portfolios in an over 20 year career in the industry, and this strategy will offer a compelling proposition for Man GLG’s investors. This launch further demonstrates our strategy of hiring exceptional portfolio managers to broaden our strong client offering,” says Teun Johnston, CEO of Man GLG.
Companies within the consumer discretionary, technology, telecoms and industrials sectors are often fundamentally mispriced as the market consensus lags behind the actual or potential effects of disruption. The Man GLG Innovation Equity Alternative fund, with $450 million in AUM, will therefore seek out companies primarily within these sectors, where lower sector correlations provide the opportunity to build a diverse and risk optimized portfolio.
The Man GLG IEA fund will be comprised of 60-70 stocks, with a significant majority in liquid stocks with a large market capitalization. With a global investment remit with exposure primarily to U.S., European and Asian markets, the strategy will be supported by Man GLG’s institutional framework and risk investment infrastructure.
“In an investment landscape characterized by rapid innovation and change, I believe this strategy can deliver attractive returns for investors,” says Mr. Kodeeswaran. “We seek to do this through identifying alpha opportunities created by the dislocations between a company’s share price and its prospects. I am delighted to be continuing my focus on this strategy, now within Man GLG, whose robust infrastructure and technology will be instrumental in supporting the strategy as it develops further.”
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