13/12/2011 Author: Will Wainewright

New Ucits offers Brazillian long/short equity access

Morgan Stanley is launching a new fund on its Irish Ucits umbrella platform which will offer access to a Brazilian long/short equity market neutral strategy, the company has announced.

The MS Claritas Long Short Market Neutral Ucits Fund will be managed by Claritas Administração de Recursos, a Brazilian investment firm worth $1.87bn.

David Armstrong, managing director at Morgan Stanley, said it was the first absolute return Ucits fund “exclusively focused on the Brazilian equity market”.

He added: “Claritas’ highly experienced investment team, led by Helder Soares, will provide investors with a diversified representation of the many alpha extraction opportunities in the Brazilian equity market within the UCITS framework”.

Northern Trust will provide administration and custodian services to the fund, which will sit on FundLogic, Morgan Stanley’s alternatives platform, which launched in 2006.

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