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French boutique to open top long/short fund to new investors

French boutique to open top long/short fund to new investors

Sycomore Asset Management is planning to expand the reach of its long/short equity fund to investors beyond its home market of France, the Paris-based firm has announced.

The Sycomore L/S Opportunities fund, which is run by Gilles Sitbon, is currently only registered for sale in France but the company said it opted to change this after the strategy reached its third anniversary.

This has seen the company register the €84 million Ucits-compliant fund in Germany, while also suggesting potential registration for the fund in Switzerland and the UK.

Sitbon, who is supported on the fund by Citywire AA-rated manager Olivier Mollé, said he has sought to capitalise on long or short bets which are going through an industry structure change or experiencing rotations by investors into new areas.

Commenting on the expansion, Sitbon said: ‘The fund's flexible and reactive profile is appealing in response to on-going market volatility and macro uncertainty.'

'At this date, we are keeping some dry powder to seize opportunities that could arise from potential market stresses.’

The Sycomore L/S Opportunities fund has returned 25.9% over the three years to the end of September 2013. This to a 10.73% return by the average manager in the Alternative Ucits Long/Short Equity sector over the same period.

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