Man GLG has launched a UCITS version of its market neutral, event-driven arbitrage strategy, which targets merger and acquisitions activity as the source of spread-driven opportunities.
The Man GLG Event Driven Alternative fund, which aims to be uncorrelated to the broader equity market, will take a long-short approach on 20 to 40 positions in global companies across the market cap spectrum.
Portfolio manager Cristian Cibrario said "healthy levels" of M&A activity in 2019 "and beyond" are offering up an attractive opportunity to "exploit market inefficiencies" within these deals.
He added: "By leveraging the same tools that have been at my disposal throughout my time at Man GLG… and with a flexible mandate across global markets, I believe this strategy is well positioned to capitalise on these investment opportunities."
CEO of Man GLG Teun Johnston said Cibrario brings to the strategy a "long and distinguished career in risk arbitrage", and "a consistent, disciplined and repeatable investment process".