GLG caps UK Alpha Select fund

GLG Partners is to cap its UK Alpha Select Ucits fund after it reached its $300m (£195m) asset target.

The fund, which launched on 19 February, will be closed to new inflows from 5 May, the company says. It replicates GLG's existing market neutral, long/short equity strategy and sits within the remit of the $22.2bn asset manager's UK equity team under John White. The fund draws on the fundamental stockpicking skills of the team, underpinned by top-down economic analysis. It launched with a large cap bias and concentrated positions. Andrew Thatcher, GLG's co-head of UK retail, says:"For the Alpha Select Ucits fund to have reached its target less than three months after launching is a...