Schroders teams up with Paulson to launch Merger Arbitrage fund
UK asset manager Schroders has teamed up with hedge fund manager John Paulson (pictured) to launch the Schroders GAIA Paulson Merger Arbitrage fund.
The fund pursues an absolute return strategy and will be distributed via GAIA (Global Alternative Investor Access), Schroders Ucits compliant platform for alternative investments.
It is based on the Paulson International Limited Fund, which has been launched in 1996 and has achieved an annualised net return of more than 12% as of March 2014, according to Paulson & Co. John Paulson currently has an AUM of USD8.3bn.
The merger arbitrage strategy focusses on price differentials in mergers and aquisitions, it is actively managed and aims at a return of 8 to 10 % with a volatility of 6 to 8 %. The portfolio includes 30 to 60 holdings, which are predominantly large caps.
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