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Kames Capital calls time on Alt Ucits fund

Kames Capital calls time on Alt Ucits fund

Kames Capital has closed the Global Opportunities fund run by Olaf van den Heuvel following a strategic review into its offshore fund range.

The fund sat within the Citywire Alternative Ucits Global Macro sector and had the ability to invest long and ‘synthetic’ short positions across a host of asset classes.

Van den Heuvel had run the Dublin-domiciled fund since its launch in December 2009 and will now move back to a role within the company’s multi-asset group.

A spokesperson for Kames Capital told Citywire Global: ‘This move follows a wider review into the offshore fund range and we decided to close this fund as part of these discussions.’

It is understood the fund had around €7 million assets when it was formally closed at the end of April. At the time of closure, 29% of the fund had been invested in two-year US treasury notes.

The Kames Capital Global Opportunities fund lost 20.73% in euro terms over the three years to the end of March. The average manager in the Citywire Alternative Ucits Global Macro fund returned 1.08% over the same period.


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