GLG to close Alpha Select after reaching $550m target

Man Group subsidiary GLG is closing John White's Alpha Select fund to new investment next Friday after it reached its asset target of $550m.

Launched in February this year, the long/short fund replicates GLG's UK equity market neutral strategy, which is managed by White's UK equity team. The fund was initially closed to new investment in May after attracting over $300m of assets, but created an additional $250m of capacity to meet strong demand. Once Alpha Select is closed, retail investors can still gain exposure to the group's UK equity team through GLG's long-only range. "Demand for the GLG Alpha fund has been strong since launch and the additional $250m of capacity has filled very rapidly, demonstrating the esteem i...