1. Newsroom
  2. New strategy on UBP's alternative UCITS platform
Menu
Press Releases 05.06.2018

New strategy on UBP's alternative UCITS platform

New strategy on UBP's alternative UCITS platform

UBP SA is launching a new equity arbitrage strategy on its alternative UCITS platform in partnership with London-based alternative investment manager Cheyne Capital Management (UK) LLP (“Cheyne Capital”). This is the fourth addition to UBP’s alternative UCITS platform, which now has close to CHF 700 million in assets under management.


The newly launched fund is managed by Pierre di Maria, head of Event-Driven Strategies at Cheyne Capital, who has more than 18 years of experience in this asset class and an impressive pedigree, having managed significant assets at Meditor, Highbridge and Lehman.

The fund offers daily liquidity and employs an arbitrage approach combining a core yield (Merger Arbitrage) component and an opportunistic (Mixed Arbitrage) element.

Managed as a pure market-neutral strategy with low market beta, the fund provides uncorrelated exposure and can act as a fixed income substitute as part of investors’ portfolio construction.

This new fund is the latest addition to UBP’s alternative UCITS platform, which already includes:

  • A discretionary global macro strategy that employs deep fundamental analysis research techniques to capitalise on trends in both developed and emerging markets via investment in a range of liquid markets and instruments (fixed income, currencies, credit, equity indices);
  • A long/short equity strategy that seeks to generate superior risk-adjusted returns via dynamic and opportunistic capital allocations to take advantage of structural changes in infrastructure, utilities and alternative energy;
  • A long/short equity strategy focused on the global healthcare sector with an emphasis on therapeutics that identifies investment opportunities (both longs and shorts) across market capitalisations and geographies based on thorough scientific and financial analysis.

Commenting on the launch, Nicolas Faller, Co-CEO Asset Management at UBP said: “Cheyne Capital is a very well-established alternative investment manager with a long-running, successful event-driven strategy."

"We look forward to our collaboration, especially in the current market environment where we see a clear need among clients to complement liquid fixed income with little correlation to traditional asset classes.”

Jonathan Lourie, Co-Founder, CEO & CIO at Cheyne Capital added:

“We are very pleased to have been chosen to run this arbitrage UCITS strategy by such a prestigious firm as UBP."

"We believe that the strategy is very well suited to today’s increasingly volatile markets, both because of its market neutrality and because end-of-cycle regime changes often provide a tailwind for M&A volumes.”

Read the Press release

About Cheyne Capital

Launched in 2000, Cheyne Capital is a London-based alternative investment fund manager. It is known for its innovative approach and has been early and successful at delivering value to investors from important dislocations in the market place. Today Cheyne Capital is one of the largest providers of European real estate debt and has developed an Investment-Grade & Crossover Corporate Credit programme that has generated net annual returns of 15% since its inception in 2002. With an investment philosophy grounded in rigorous fundamental analysis, the firm’s other areas of expertise are event-driven, equities, convertible bonds, strategic value credit and social property impact investing.

About Union Bancaire Privée

UBP is one of Switzerland’s leading private banks, and is among the best-capitalised, with a Tier 1 capital ratio of 27.5% as at 31 December 2017. The Bank is specialised in the field of wealth management for both private and institutional clients. It is based in Geneva and employs 1,697 people in over twenty locations worldwide; it held some CHF 125.3 billion in assets under management as at 31 December 2017.

Download the Press Release in the following languages

Newsletter

Sign up to receive UBP’s latest news & investment insights directly in your inbox

Click and enter your email address to subscribe

Responsible Investment

Value creation through responsible investment

Learn more about our Responsible Investment expertise

Watch the video

Most read

Press Releases 20.07.2017

UBP announces strong first half-year results; increasing net profit to CHF 110 million

Net profit at the end of June 2017 was CHF 109.5 million, up 21.6% from CHF 89.9 million a year earlier. Assets under management totalled CHF 118.9 billion at the half-year.

Press Releases 26.10.2017

UBP enhances its emerging market capabilities

UBP has announced a new addition to its emerging market fixed income capabilities with the launch of a new offering – Emerging Market Sovereign Bond.

Press Releases 18.01.2018

Union Bancaire Privée net profit up 25% to CHF 220.4 million

Full-year 2017 net profit was CHF 220.4 million, up 25% or CHF 44 million compared to the 2016 figure of CHF 176.4 million. The cost/income ratio improved to 64.1% compared with 67.9% in 2016, reflecting the Group’s strong earnings. Assets under management reached CHF 125.3 billion, a rise of 5.9% on 2016 (CHF 118.3 billion).

Further reading

Press Releases 19.07.2018

UBP announces a net profit of CHF 115 million

Net profit at the end of June 2018 rose to CHF 115.3 million, up 5.3% from CHF 109.5 million from the same period in 2017. The operating result of CHF 147.4 million, compared with CHF 133.9 million a year earlier, represents an increase of 10.1% (+ CHF 13.5 million). Assets under management reached CHF 128.4 billion thanks to net inflows of CHF 2.7 billion.

Press Releases 19.07.2018

UBP expands its activities in the UK with the acquisition of ACPI

Union Bancaire Privée, UBP SA (UBP) has announced that it has agreed to acquire ACPI Investments Limited (ACPI), an independent London-based investment management company, and the activities of ACPI IM Limited in Jersey. The transaction is subject to the approval of the relevant regulatory bodies, and is expected to complete during the fourth quarter of 2018.
Press Releases 12.07.2018

Launch of a new investment-grade strategy

UBP announced today that it is further expanding its euro fixed-income offering with the launch of a new investment-grade strategy.