A UK and a US firm have joined forces to launch a new UCITS-compliant fund.

UK-headquartered investment manager Tages Capital has partnered with New York-based alternative investment manager Atreaus Capital to launch a UCITS-compliant alternative investment fund, which it says offers investors a differentiated hedge fund strategy.

The Tages Atreaus Macro UCITS Fund is the fifth alternative fund launched by Tages in the last year and will start out with a minimum of $25 million of institutional capital.

Atreaus, which started up in 2012 with a focus on delivering non-correlated absolute returns through a discretionary global macro approach, has more than $1.35 billion in assets under management, and investors will be offered access to the firms’ expertise in macro portfolio management within UCITS limits and guidelines.

Atreaus primarily invests in liquid currency and commodities markets.  

“As an existing investor in the Atreaus macro strategy, Tages has been impressed by the team’s investment process and ability to generate attractive, non-correlated risk adjusted returns, particularly during periods of macro uncertainty and volatility,” said Jamie Kermisch, chief executive of Tages Capital.  

He added: “We are excited to be building on our partnership and believe this new UCITS macro fund further demonstrates Tages’ commitment to offering investors access to experienced, high quality differentiated managers and strategies.”
 
Todd Edgar, chief investment officer at Atreaus Capital, commented: “We are pleased to partner with Tages, one of the most active and influential investors in the fast growing UCITS alternatives segment. Through our process driven approach to trade selection and capital allocation, we aim to produce returns with strong upside potential and low correlation to equities and credit.”