The Para International Ucits Fund is due to launch on the MontLake Platform on 1 July, subject to regulatory approval. It will be managed in the same investment style as Para’s flagship US fund – an event driven multi-strategy fund. According to Para, the fund has achieved an annualized compounded net return of 11.5% since its launch in 1991.
ML Capital launched the MontLake Platform in September last year. The aim of the platform is to allow external companies to launch hedge funds into the retail market in a Ucits compliant format.
John Lowry, Chairman of ML Capital said “The Ucits space is still vastly underserved by the leading US hedge fund managers and the launch of the Para International Ucits fund is another illustration of ML Capital’s commitment to bring experienced and talented fund managers with proven track records to the rapidly expanding Ucits investor base.”
