Mellon adds UK distributor status to offshore fund

The fund, which is managed by quantitative fund manager Mellon Capital Management Corporation, is a UCITS vehicle which uses a derivative-based hedge fund-like investment strategy to generate returns. It aims to produce a target return of 1 month EURIBOR plus 4pc over a three to five year rolling period, by taking both long and short positions to capture alpha and manage risk. It has been running since September last year. The team managing the portfolio uses an investment strategy known as Global Tactical Asset Allocation (GTAA) to take advantage of relative valuation opportunities c...