Morgan Stanley has said that it will launch a new fund, MS Broadmark Tactical Plus UCITS Fund, under its funds solutions platform FundLogic.

The fund, which is managed by Broadmark, seeks to produce above-average risk-adjusted returns with less downside volatility than the S&P 500 Index through any market cycle. The fund aims to do this by gaining both long and short exposure to equity markets by investing primarily in US equity-based futures, ETF's and options, the firm said in a statement.

“The fund is aiming to take advantage of large institutional managers repositioning their portfolios in the equity markets in response to changes in the macroeconomic environment and investor expectations,” said Stephane Berthet, head of the FundLogic alternatives platform at Morgan Stanley.

FundLogic is the brand name for Morgan Stanley’s fund solutions platform launched in 2006. It offers both UCITS and non-UCITS funds. FundLogic, being part of Morgan Stanley’s multi-asset platform, delivers fund solutions to clients by combining the financial expertise, innovation and resources of Morgan Stanley, and offers a range of products including passive index funds, structured funds and the third party manager-UCITS funds.

Morgan Stanley’s FundLogic platform currently has more than $1.7 billion in assets under management and, with this latest addition, now offers UCITS investors a diversified range of 21 funds.