The NewSmith European Fund is a UCITS long-short equity fund which will follow the same strategy as the company’s offshore long/short equity fund, which has posted 29% net returns since its inception seven years ago.
The Dublin-domiciled fund contains $35m of invested seed capital and has daily dealings in euro, dollar, sterling, and yen.
It is managed by European equity investment leader at NewSmith, Jean Maigrot, who has 28 years’ experience in trading European equities.
He was previously head of trading teams at Salomon Brothers, HVB, and ABN Amro, before joining NewSmith in 2007.
On the launch, Maigrot said the fun will look to capitalise on opportunities in European economic growth, while many European stocks trade at a wide discount to US equities.
Chairman at Newsmith, Paul Roy, added: “We have seen strong demand from investors for access to our long/short European investment strategy, and this, together with the growing popularity of the UCITS, drove our decision to launch the fund.”
