Merrills opens up hedge fund

The Merrill Lynch European Equity hedge fund, which launched in February, is now open to third party investment, writes Ruth Alexander. At launch, the fund was only marketed to Merrill Lynch clients but now IFAs, fund of funds and institutional investors will be able to buy into the long-short vehicle. The fund, which has a minimum subscription of E100,000, is being run by two pan-European managers, Michael Legros and Samuel Joab. It was originally intended that the fund, which carries a 1.5% annual management charge, would be invested by a three man team including Peter Davies, w...