GLG Partners is set to launch the GLG Alpha Select fund, a UCITS III version of its flagship UK long/short equity fund.

The fund, which will launch next month and is subject to regulatory approval, will be managed by John White and Jason Mackay and will aim to replicate GLG’s existing market neutral, long/short equity strategy.

Like the existing GLG UK long/short equities strategy, the UCITS Fund will focus on fundamental stock-picking underpinned by top-down economic analysis and strict risk management.

One of the important considerations for investors in UCITS III funds is how closely performance will track existing alternative fund strategies.

Andrew Thatcher, co-head of UK marketing at GLG, said, ‘This was something we looked at very closely in respect of the new UCITS Fund. Whilst there is always potential for some tracking error we are confident that the existing alternative fund strategy can be substantially replicated under UCITS constraints and that the UCITS rules provide the portfolio managers with all the tools they need to manage this strategy within a UCITS vehicle.’

The minimum investment will be £1,000. For more information, visit www.glgpartners.com.