25 Feb 2010
Laxey Partners has announced the planned launch of the Laxey Albion Absolute Return Fund, a new UCITS III compliant fund. The fund will be the first sub-fund of the Laxey Albion Fund plc, an Irish umbrella investment company. Launch date is expected to be March 2010.
The Laxey Albion Absolute Return Fund will be market neutral and aims to capture the volatility of the discount/premium to NAV of closed end funds. Target returns will be 10%-12% with volatility of around 5%. The fund will also offers weekly dealing.
The fund will be managed by Sean Hurst from Laxey Partners Ltd’s newly opened office in Paris. Sean Hurst has over 11 years experience as a market neutral closed end fund arbitrageur both at BNP Paribas Arbitrage and The Albion Fund, an offshore fund set up by Hurst in 2005.
The Laxey Albion Absolute Return Fund will be market neutral and aims to capture the volatility of the discount/premium to NAV of closed end funds. Target returns will be 10%-12% with volatility of around 5%. The fund will also offers weekly dealing.
The fund will be managed by Sean Hurst from Laxey Partners Ltd’s newly opened office in Paris. Sean Hurst has over 11 years experience as a market neutral closed end fund arbitrageur both at BNP Paribas Arbitrage and The Albion Fund, an offshore fund set up by Hurst in 2005.
