Dalton hard-closes European Absolute Return at $600m

Dalton Strategic Partnership has hard-closed its Melchior Selected Trust European Absolute Return fund at $600m, just a month after the vehicle was soft-closed at $500m.

Magnus Spence, managing partner at DSP, said a surge of inflows last month has seen the fund reach full capacity.

“Since the launch of the fund, Leonard Charlton (pictured) and his team have generated consistent positive returns with low volatility and a low correlation to equities,” said Spence.

“The decision to hard-close the fund has been taken in order to ensure investment performance is not negatively impacted by further inflows of assets.”

He added decreased market exposure and strong alpha generation from both the long and short portfolio had driven the rapid growth in inflows.

The Ucits III European equity long/short fund was launched in February 2010.


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