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21 Sep 2010

Hedge Fund Launch: Clareville Capital Partners LLP

HedgeCo News - Privately owned financial management company, ML Capital Asset Management, (ML Capital) announced that the first manager to launch on the Montlake UCTIS platform* will be Clareville Capital Partners LLP, the hedge fund founded by David Yarrow. The fund will commence trading on October 1, 2010.

"The UCITS revolution allows investors to access managers who can actively short stocks and hedge a portfolio, however managers with long and successful experience of running equity hedge funds are in short supply." John Lowry, Chairman of ML Capital said, "The Pegasus fund has been running for over a decade and has always been run in line with the UCITS principles, which is very comforting to our investors."

David Yarrow and Angus Donaldson will co-manage a UCITS compliant derivative of the 13-year-old Pegasus Fund, which employs a UK Long/Short equity strategy.

"Yarrow and Donaldson's investment style will appeal to a lot of our investors. Their strong performance in upwardly trending markets and excellent downside protection in perilous markets is demonstrated by their track record." Lowry said.

"The past 10 years have illustrated the limitations of traditional "long only" equity investing." Angus Donaldson added, "All investors should have the opportunity to protect themselves from market volatility by investing in regulated hedge funds. However, many of the managers who have launched alternative UCITS products have found that they have weak brand awareness outside of the hedge fund world. This applies not just to smaller boutiques but also some of the very largest hedge fund houses. "

*Domiciled in Ireland, the Montlake UCITS platform Plc, provides investment managers with a turnkey solution for launching UCITS funds under its umbrella structure.

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