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Man Group launches long/short European mid-cap equity fund

Man Group launches long/short European mid-cap equity fund

Man GLG has launched a new European equity fund which aims to focus on long/short opportunities in the mid-cap sector.

The Dublin-domiciled Man GLG European Mid-Cap Equity Alternative fund will be run by Moni Sternbach, a former Gartmore fund manager who joined Man GLG in January from Cheyne Capital.

The fund seeks to provide attractive risk-adjusted returns through both long and short investments primarily in European securities with a market capitalisation of €500 million to €10 billion.

Sternach, a mid-cap specialist, previously worked for Cheyne Capital for three years and ran a similar strategy for the London-based group called the Cheyne European Mid Cap Long/Short fund.

Commenting on the launch, Sternbach said: 'The new strategy fits very well within the Man GLG investment framework and offers significant synergies with the European stock picking team and its sector specialists.'

'We believe the European mid-cap equity market segment has become an increasingly compelling asset class for stock pickers due to poor and worsening sell-side analyst coverage, which provides the potential for us to generate attractive risk-adjusted returns for investors.'

In March, Man Group launched two funds in quick succession with recently acquired US boutique Numeric Holdings, which was purchased to develop a diversified, global quantitative-based investment platform.

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