23 Feb 2011
SEB Enskilda has announced that RAB Capital will launch a new UCITS fund using SEB Prime Solutions. RAB has selected SEB's one stop shop offering to market its fund which replicates the established Polaris Prime Europe fund.
SEB Prime Solutions launched in mid-September 2010 as an umbrella SICAV platform for alternative investment managers' UCITS funds. The platform offers the necessary legal structure, risk management and administration services facilitating the launch and marketing of these funds.
RAB was founded in 2000 as a focused specialist asset manager and has been publicly traded on London’s Alternative Investment Market since 2005. RAB’s Polaris Europe Fund’s long/short equity strategy has returned 19% annualised since 2003, and RAB expects to raise EUR100 million for the UCITS fund.
SEB Prime Solutions launched in mid-September 2010 as an umbrella SICAV platform for alternative investment managers' UCITS funds. The platform offers the necessary legal structure, risk management and administration services facilitating the launch and marketing of these funds.
RAB was founded in 2000 as a focused specialist asset manager and has been publicly traded on London’s Alternative Investment Market since 2005. RAB’s Polaris Europe Fund’s long/short equity strategy has returned 19% annualised since 2003, and RAB expects to raise EUR100 million for the UCITS fund.
Atilla Olesen, UK Co-head of SEB Enskilda Equities comments: "We are delighted that a reputed quality manager like RAB Prime Europe has decided to select SEB Prime Solutions as their UCITS partner. We look forward to helping them continue to deliver strong returns to investors. With more funds looking to launch UCITS replication funds we see an opportunity to develop our platform even further and help manage these vehicles in a more efficient way. Bringing together all the services required to manage a fund in a single solution frees the manager to get on with their primary goal of generating returns for investors.”
Steven J. Solmonson, who spearheaded the Prime Europe UCITS fund launch at RAB Capital adds: "When looking for a platform on which to launch our UCITS replication fund we had two key requirements. Firstly, we needed quality back office and clearing support. Secondly, we were committed to keeping operating costs as low and competitive as the existing look-alike non-UCIT. SEB Prime Solutions was therefore a natural choice. Their pre-packaged umbrella with organisational, administrative and legal support means that SEB are able to bring costs in line with our requirements. We set out to meet the big issues raised by investors, and we were able to find a very viable way to meet this challenge thanks to SEB."
