PROSPER launches a new UCITS Long/Short US Equity fund
19. Jan 2012
Geneva, 19 January 2012 – PROSPER FUNDS SICAV has announced the launch of PROSPER Stars & Stripes Fund, a new long/short fund investing in US equities with a UCITS compliant strategy. PROSPER Stars & Stripes Fund is managed by Independence Capital Asset Partners, LLC (ICAP), a US-based hedge fund manager. The fund replicates a proven absolute return strategy which has offered better cumulative and risk-adjusted returns than equity investments over the past seven years. In the current challenging market environment, PROSPER Stars & Stripes represents a timely opportunity to capture equity markets upward potential while keeping a safety cushion in case of turbulence. The fund, which is still reserved for an institutional clientele, will be registered shortly in Switzerland.
PROSPER Stars & Stripes: a high added value complementary strategy within an equity allocation
PROSPER Stars & Stripes invests in US equities with a long/short approach. Independence Capital Asset Partners, LLC (ICAP) is a specialised long/short equity manager focused on the US market, with an established track-record since 2004. Their results compare favourably with long/only strategies in bull markets thanks to their directional bias, while their portfolio is less volatile and more resilient in bear markets thanks to both its flexible market exposure and the alpha generated by its short book.
PROSPER Stars & Stripes replicates ICAP’s absolute return strategy which has achieved an attractive absolute performance, outperforming the US equity market over the past seven years with a lower volatility (8.9% annualised return with an annualised volatility of 12.7% vs 3.6% and 16.3% respectively for the S&P 500 Index – From 11.01.2004 to 12.31.2011).
Independance Capital Asset Partners, LLC (ICAP): a specialised investment manager with a strong edge in fundamental research
ICAP was founded in Denver, Colorado in November 2004 by James Hillary, a former Marsico Capital Management co-founder and portfolio manager who has 21 years of research and long/short investment experience. The company manages about USD500 million.
ICAP has built a very strong research team of specialised analysts with complementary backgrounds, lead by the company founder and portfolio manager. The team follow a fundamental contrarian approach and have developed a proprietary company modelling with over 2,500 companies currently in database.
Administrative information
- UCITScompliant Luxembourg SICAV
- The fund is compliant for a UCITS fund of funds
- Weekly liquidity
- Open for subscription in USD, EUR-hedged and CHF-hedged
PROSPER Stars & Stripes Fund S USD LU0723589882
PROSPER Stars & Stripes Fund S EUR-hedged LU0723589700
PROSPER Stars & Stripes Fund S CHF-hedged LU0723589965
All the fund’s details are available in the prospectus.
For further information, please contact:
Prosper Professional Services SA
Thierry Robin
T. +41 22 752 69 69
thierry@prosperfunds.lu
www.prosperfunds.lu
About Prosper Professional Services SA
Prosper Professional Services SA (Prosper) is a company specialising in investment advisory and the marketing of collective investment schemes for professional clients. It was founded by Riccardo Barilla and Thierry Robin, former CEO and Head of Sales of the OYSTER funds range respectively.
Their extensive experience of working for asset managers and finance professionals has enabled them to acquire the necessary expertise not only for identifying and promoting talented managers, but also for developing services geared primarily to investment professionals.
Prosper is the global marketing coordinator and investment advisor to the Luxembourg UCITS III, part 1 Sicav “PROSPER FUNDS SICAV”. PROSPER Multi-Manager, the first fund of “PROSPER FUNDS SICAV”, was launched in December 2009.
In December 2010, the Swiss private bank Mirabaud & Cie acquired a minority stake in Prosper Professional Services SA and started joint-managing the alternative and absolute return fund of funds which was renamed PROSPER Mirabaud Multi-Manager. PROSPER Stars & Stripes Fund, the second fund of “PROSPER FUNDS SICAV”, was launched in December 2011.