U.S. global hedge fund sponsor, GLG Partners, has launched a new long/short Ucits III portfolio, Financial Times reports. The GLG North American Equity Alternative Ucits fund will focus on liquid mid to large cap stocks and target attractive risk-adjusted returns with below-market volatility. The vehicle, which will be similar to the Cayman-domiciled North American Opportunity fund, will be managed by head of North American equities at GLG, John Gisondi. The portfolio will be the 9th absolute return Ucits III fund launched by GLG since July 2009.
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