The Dublin-domiciled fund is available to European and UK investors in $, £ and Euro share classes and will invest in global equities, global fixed income, commodity markets, money market instruments, global property and alternative investment strategies.

Castlestone has already applied a Ucits III structure to two previously offshore-only commodity funds – the Aliquot Agriculture Fund and the Aliquot Commodity Fund and had originally intended to launch this fund in the latter half of 2009. However, the firm said wrapping the global macro fund in a Ucits III structure ‘entails more effort than even the commodity funds did’.

Leon Diamond, head of trading at Castlestone and manager of the fund, said: “The ultimate goal is to give clients access to the kind of capital-preservation and absolute return characteristics of an offshore institutional style product, within the type of regulatory framework that gives investors confidence that they know what they are buying.”