Rothschild Asset Management has launched a long/short market neutral fund in partnership with French boutique Perdurance Asset Management.
The R Perdurance Market Neutral fund is managed by Perdurance manager Ivan Briery, the co-founder and former lead manager on the renowned Voltaire fund, a long/short market neutral fund.
Rothschild’s new European-focused equity neutral strategy uses an in-depth evaluation of the beta and any sector, geographic or style bias of the long leg of the portfolio and sets up hedges (short) via indices in order to neutralise them.
The Alternative Ucits fund sits on Rothschild Asset Management’s dedicated platform, InRIS, which was launched in July 2013 and has €4 billion in assets under management.
Commenting on the launch, a spokesman for Rothschild said: 'Alongside the R CFM Diversified Fund, R Parus Fund and R Karya Macro Fund, R Perdurance Market Neutral Fund is enriching a tight range of complementary Alternative Ucits funds, both in terms of profitability / risk, underlying strategies and liquidity.’
Perdurance Asset Management is largely owned by Briery, who holds 60% of the company, and Perdurance Philanthropy, at 40%.
The firm donates 40% of all profits to philanthropic projects, linked to human rights, disadvantaged early childhoof education, health and social entrepreneurship.
Briery came out of retirement in 2014 to launch the firm, having taken a step back from industry in 2005 after the success of Voltaire Asset Management, which he ran with Laurent Saglio, who went on to found Zadig Asset Management.
The Voltaire fund was hugely successful but deliberately low profile and counted George Soros as an investor. In 2005 the pair handed back €450 million to shareholders after Briery called time on the venture in order to spend more time with his family.