The former managers of the Merrills Recovery and Blue Chip funds, Steve Thompson and Mark Darell-Bro...
The former managers of the Merrills Recovery and Blue Chip funds, Steve Thompson and Mark Darell-Brown, are to launch a UK hedge fund this October, writes Robert Stock.
The pair, who are with RAB Capital, are to run the RAB UK hedge fund, a long/short portfolio focusing mainly on the FTSE 100 and the Mid 250. RAB Capital aims to initially raise $100m and will have a minimum investment of £100,000.
Thompson ran the MLIM Recovery fund and Darell-Brown managed the MLIM UK Blue Chip fund, which was one of the UK's star funds in the mid-1990s before performance faltered. Darell-Brown was brought in to turn the portfolio round in March 2000.
Another ex-MLIM fund manager Peter Davies, who ran MLIM UK Dynamic, the mirror fund of the highly successful offshore Most UK Dynamic fund, has seen £250m flood in at the launch of the Lansdowne Partners' new UK long/short equity hedge fund. Davies will run the fund with Stuart Roden, who was head of UK equity research at MLIM for three years and worked with Davies in the high-performance institutional specialist investment team.
Davies left MLIM soon after the Most UK Dynamic fund was launched in an onshore version. The hedge fund from Lansdowne, which has about £1bn in pan-European hedge fund assets under management, has three share classes denominated in dollars, euros and sterling.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till