As part of this drive the company recently launched the Merrion European Absolute Return Fund and said more launches were planned in the coming months.
The Dublin-domiciled Merrion High Alpha Fund reached its third anniversary earlier this month and, according to the company, has returned 103% since its inception – which equates to 26.6% per annum. It currently has around €50m invested in the strategy which has predominantly been raised from Irish professional investors including pension funds, corporate funds and high net worth individuals.
The fund is a global macro long short fund designed to deliver strong positive performance with a low correlation to equity market returns. It takes concentrated positions in high conviction stocks to generate returns and makes use of tactical asset allocation between equities and cash to provide capital protection. The strategy does not use leverage.
Joe O’Dwyer, managing director of Merrion said: “The Merrion High Alpha Fund is designed with the capacity to generate high returns, while aiming to preserve capital. It has delivered strong returns, during a period of considerable uncertainty within financial markets. It offers investors the absolute return profile of a hedge fund with the transparency and risk controls of a regulated Qualifying Investor Fund.”
