Butler Credit Opportunities UCITS Fund
DUBLIN, 9th June 2017- Butler Investment Managers is an asset management company, part of the Butler Industries Group, founded in 1991 by Walter Butler. In May 2017, they launched the Butler Credit Opportunities UCITS Fund (BCO), a European High Yield Long/Short fund, on ML Capital's flagship UCITS umbrella, the MontLake UCITS Platform ICAV. BCO will target net annualised returns of 8% to 10% and a volatility below 5%.
It will be managed with the same expertise and investment team as the WB Opportunities Fund that has demonstrated outstanding returns in all market conditions since its inception in 2009. With the same targeted returns as BCO, the WB Opportunities Fund, has been able to consistently deliver on its investment objective since inception.
BCO launched with day 1 assets in excess of €40 million with additional commitments to exceed €100 million in the coming weeks from European clients, based in Benelux, France, Germany, Switzerland and the UK. With a fund capacity of €600 million, we are already beginning to experience investors reserving capacity for their clients.
The portfolio management team (Laurent Kenigswald, Olivier de Parcevaux and Cyril Furtak) have worked together as a team managing hedge funds since 2005, through a variety of changing economic cycles including the global financial crisis. The team has a proven ability to generate best-in-class risk-adjusted returns both in bull and bear markets by using a unique investment approach, placing risk management and preservation of capital at the centre of portfolio management.
The strategy concentrates primarily on trading outright Long and Short bonds, Relative Value Opportunities and Special Situations, with well-diversified hedging. The Fund will principally invest in the most liquid bonds within the European High Yield market.
Laurent Kenigswald, Butler Investment Managers, Chief Investment Officer, commented: "We seek to capture the upside when conditions are supportive and limit the downside when markets become more challenging. We constantly search for trading opportunities to generate positive returns. With current uncertainty and rising risks, being able to protect capital whilst still generating solid absolute performance will be even more critical to investment portfolios."
Speaking with Walter Butler, Butler Investment Managers, Founding Partner, said: "The launch of the BCO UCITS fund has received very positive interest from European investors and will enable us to accelerate the development of our asset management platform."
Cyril Delamare, ML Capital's, Chief Executive Officer, commented: "We are extremely delighted to have partnered with Butler Investment Managers to launch the Butler Credit Opportunities UCITS Fund. We have every confidence in the team's proven European Credit Long/Short ability, and that their focus on capital preservation will continue to meet the demands of investors in this asset class today."
About Butler Investment Managers
Butler Investment Managers is a company created in 2008 by Walter Butler, owner and founder of Butler Industries set up in 1991. The Group operated on three major asset classes: private equity with Butler Capital Partners/Butler Industries, credit markets with Butler Investment Managers and real estate with Corum/Butler Real Estate.
About ML Capital
ML Capital is a forward looking and leading independent fund structuring and investment management firm specialising in European regulated fund structures. As an award-winning platform provider, we partner with the very best of investment managers to bring to market the latest most appropriate fund structures to comply with the raft of incoming regulatory requirements, whilst meeting the ever increasing expectations of investors. As at May 31st, 2017, group AUM stands at $3.5 billion.
ML Capital handles all aspects of the fund structuring and launch on investment managers' behalf. Through our dedicated network, we also offer fund sales and distribution if required and have had comprehensive coverage of investors in all key European markets for the past 20 years.
Our goal is to provide the most appropriate fund structures to maximise distribution opportunities across all key markets. Our solutions bring together market leading service providers with some of the very best minds in the regulated fund space; providing well managed European investment products with the highest levels of service and governance. We ensure that all incoming investors and partners come in with the full knowledge that they are investing into structures that are designed to protect and preserve investor interest.
MLC Management Ltd acts as third party management company for UCITS and AIFMD funds. Offering better compliance, oversight and management facilities than self-managed structures, the management company is the future of fund structuring; as the industry responds to the desire of investors and regulators for greater substance, we believe management companies will become the structure of choice for new funds, as others move away from self-managed fund structures.