GLG Partners, now part of London-listed Man Group, has made its existing GLG European Long-Short hedge fund available as an Ireland-based UCITS fund for private investors, tapping expected demand for a fund aiming to make money in an uncertain climate.

The fund is managed by Pierre Lagrange, partner and co-founder of GLG, Simon Savage, a specialist in active risk management, and Darren Hodges, an expert in options trading. The original fund has a track record spanning more than 10 years.

The vehicle is designed to deliver sustainable capital growth and protect existing client wealth; it is market-neutral and exposures are capped at plus or minus 5 per cent at all times.

“The mixed outlook for recovery in Europe offers multiple opportunities for this strategy and we are pleased to be able to offer it more widely,” Lagrange said in a note. The launch of a UCITS version of an established hedge fund follows a busy trend in recent years as firms have sought to use such pan-European structures to market existing products to a wider audience. UCITS funds must provide high standards of transparency and liquidity, both of which have become increasingly important since the 2008 market crash, when many hedge funds locked in investors to contain mass redemptions.

The Fund will be the tenth absolute return UCITS fund launched by GLG since July 2009. It will be a sub-fund of GLG Investments VI plc, incorporated in Ireland.