Mellon to launch retail hedge fund for European investors

The Mellon Evolution Global Alpha fund is managed by Mellon Capital and takes advantage of the wider investment powers granted under the Ucits III directive. It uses the same global tactical asset allocation (GTAA) strategy as the Mellon Alpha Access hedge fund, and looks at arbitrage opportunities across global equity, bond and currency markets. As the fund has an existing strategy, Standard and Poor’s has already awarded the fund an AA rating. Alan Mearns, head of marketing at Mellon Global Investments, said: “The fund was launched following demand from our distributors in Europe. The in...