Man GLG launches second long/short value fund

Focus on mid caps

Man GLG is to unveil the UK Absolute Value fund in June, its second value proposition this year, having already launched a global value vehicle in February.

The fund will be managed by Jack Barrat and focus on the mid-cap segment of the UK equity market. Barrat is also co-manager of the Man GLG Undervalued Asset funds with Henry Dixon. The firm has also hired James Houlden from UBS Investment Bank to join the UK equities team, who will support Barrat, Dixon and other team members on the UK equity products. The new fund, which was already run as part of the Man GLG Alpha Select strategy for over two years, aims to deliver around a 10% return per annum.  It will achieve this by utilising the data and process behind the Man GLG Undervalue...