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Man GLG launches long/short global fund

Man GLG launches long/short global fund

Man GLG has launched a global long/short equity fund for former RWC manager Priya Kodeeswaran.

The Man GLG Innovation Equity Alternative fund, which is available in Ucits format, has been launched with $450m (£364m) in seed money.

The fund will look to invest in “companies or sectors undergoing change or innovation”, particularly in the consumer discretionary, technology, telecoms and industrials sectors.

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It is Man GLG’s first fund launch for Mr Kodeeswaran, who the firm hired from RWC in 2016, where he had been running a similar fund, RWC Global Innovation Absolute Alpha.

Prior to joining RWC in 2009, Mr Kodeeswaran spent five years at Cheyne Capital, where he developed his current investment approach based on targeting innovative companies.

Mr Kodeeswaran had previously co-founded Avocet Capital and worked at Deutsche Asset Management and Europa Capital Management.

The Man GLG Innovation Equity Alternative fund will hold around 60 to 70 stocks, mostly those with large market capitalisations listed in US, European and Asian markets