Switzerland’s Union Bancaire Privee (UBP) has partnered with UK-based Cheyne Capital Management to introduce an equity arbitrage fund on its alternative UCITS platform.
The fund, dubbed U Access (IRL) Cheyne Arbitrage UCITS, is a market-neutral strategy. It incorporates an arbitrage approach, combining a core yield and an opportunistic element.
The new offering is the fourth fund on the company’s alternative UCITS platform. The platform currently oversees around CHF700m in assets and also includes the U Access (IRL) Trend Macro, U Access (IRL) Electron Global Utility, and U Access (IRL) Nexthera UCITS funds.
UBP co-CEO of asset management Nicolas Faller said: “We look forward to our collaboration, especially in the current market environment where we see a clear need among clients to complement liquid fixed income with little correlation to traditional asset classes.”
The new vehicle will be run by Cheyne Capital head of event driven strategies Pierre di Maria.
Cheyne Capital co-founder, CEO and CIO said: “We believe that the strategy is very well suited to today’s increasingly volatile markets, both because of its market neutrality and because end-of-cycle regime changes often provide© a tailwind for M&A volumes.”