| Merrion readies second fund launch |
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Merrion Capital Group is to launch its second hedge fund in October, the Merrion Global Opportunities Fund.
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The investment approach of the fund, which is a Professional Investor Fund (PIF) with a minimum investment of €125,000, is to look primarily for special situations such as investing in companies that are being successfully restructured or selling distressed companies. Other situations include merger and acquisition arbitrage and pair trades involving two correlated stocks where a temporary pricing anomaly exists.
The fund can go long or short together with the ability to use leverage. The fund is managed by Pascal Conroy and Mark Roche, who between them have over 20 years extensive trading and investment management experience. The management fee is 1.5 per cent per annum with a performance fee of 20 per cent taken only on net highs achieved.
In May, Merrion launched its first hedge fund, the Merrion Kinetic Fund. Goodbody and NCB stockbrokers also have proprietary hedge funds. |
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| Article appeared in the September 2004 issue.
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