CRUX Asset Management Launches UCITS Version Of Flagship Special Situations Fund

Apr 26 2017 | 11:30pm ET

Richard Pease’s CRUX Asset Management has unveiled a new UCITS-compliant strategy that will provide investor access to the company’s flagship European equity fund.

The new fund, named the CRUX Global Fund, will invest at least 85% of its assets into Pease’s €1.5 billion FP CRUX European Special Situations vehicle, according to an article in Citywire. It will be accompanied by a feeder fund that will launch in mid-May 2017 and have an offer period between May 2 and May 12. The new feeder fund will be passported for sale in Luxembourg, Switzerland, France, the U.K. and Spain.

The FP CRUX European Special Situations fund invests in a concentrated portfolio of undervalued European (ex-UK) companies. The fund has a rigorous investment approach, identifying and investing in the best stocks within its investment universe without restriction by market cap or sector, the company said in a press release announcing the UCITS launch. 

“This launch offers our existing and new clients within Europe an opportunity to invest in a fund which has a proven investment process and track record,” said Mark Little, director of distribution, in the statement. “The move is in line with our long-term strategy of broadening our distribution channels in the UK and across Europe which, we believe, have considerable growth potential for our business.”

Founded in 2014 by Pease, a former portfolio manager with Henderson Global Investors, and several of his colleagues, London-based CRUX is a high-conviction equity special situations manager that focuses on family-owned middle-capitalization opportunities. 

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