Martin Currie is to launch three UCITS-compliant hedge funds, subject to regulatory approval, in October. The three strategies to be launched are: Japan Absolute Alpha, European Absolute Alpha and Global Resources Absolute Alpha. All three are based on existing hedge funds and will be managed by the same teams of portfolio managers. These will be Luxembourg-domiciled Sicav funds with sterling, euro and dollar share classes.

All the new launches draw on the expertise of existing portfolio management teams within Martin Currie. For example, the Japan Absolute Alpha fund will be managed by John-Paul Temperley and Keith Donaldson, who run Martin Currie’s ARF Japan Fund, the firm’s first hedge fund, launched in 2000.

Andy Sowerby, managing director responsible for sales, marketing and client services at Martin Currie, said that the changing regulatory environment had played a big role in the decision to launch UCITS funds. “In the aftermath of the financial crisis…the regulatory map is being redrawn,” he said. “We expect the demand for UCITS long/short equity to grow and grow. For this reason, and in response to client demand, we are now introducing three of our top funds to our Luxembourg range.”

Sowerby said he expected the funds to be ‘live’ potentially as early as the end of September, once regulators have signed off on them. Each strategy will offer US dollar, euro, and sterling classes.

Martin Currie manages $1.2 billion in single strategy equity long/short hedge funds, including global TMT and Greater China funds. It also has a diversified long/short fund which allocates across the range of strategies.