Morgan Stanley has launched a fund under its UCITS Irish umbrella, FundLogic Alternatives. The new fund will be managed by New York based Sandler O’Neill Asset Management and will offer access to a long/short equity strategy focused on the US financial services industry.

“We continue to see strong appetite from investors for absolute return strategies in a UCITS format. Our partnership with SOAM goes a long way to meet this healthy demand,” said David Armstrong, a managing director and global head of fund-linked business at Morgan Stanley.

FundLogic is the platform brand name for Morgan Stanley fund solutions launched in 2006. The platform offers a range of products including simple index funds, structured funds and the more recently launched third party managers UCITS funds.