A new fund under the management of New York based Sandler O’Neill Asset Management is to launch on Morgan Stanley’s UCITS Irish umbrella, FundLogic Alternatives. The new fund will offer access to a long/short equity strategy focused on the U.S. financial services industry.

SOAM has over 15 years experience running a strategy similar to the proposed UCITS one. Morgan Stanley launched FundLogic in 2006 and in recent years has begun hosting third party manager investment strategies using hedge fund management techniques in the UCITS format. 

“We are proud to announce that Sandler O’Neill Asset Management (SOAM) has teamed up with Morgan Stanley to enter the UCITS space,” said David Armstrong, managing director and global head of fund-linked business at Morgan Stanley. “This new addition to our FundLogic Alternatives Platform is another step towards an increasingly diversified offering.” 

Commenting on the launch, Terry Maltese, president and CEO of SOAM, and portfolio Manager of the UCITS fund, said: “Our UCITS fund will offer an opportunity to participate in our conservative and research intensive long/short equity strategy focused on US financial services. We are excited to partner with Morgan Stanley because of their robust operational framework, risk management expertise and the ability to capitalize on their extensive distribution network.”

Armstrong added: “We continue to see strong appetite from investors for absolute return strategies in a UCITS format and find many exciting opportunities with US based asset managers willing to strengthen their European footing. Our partnership with SOAM, an established manager with a long history of impressive returns, goes a long way to meet this healthy demand. This initiative will provide investors with a unique opportunity to participate in a U.S. financial services strategy.”