MPC Investors (MPC) today announced they are opening their discretionary macro hedge fund, the MPC Strategic Opportunities Fund, to external investors. This follows the successful $900m launch of the MPC Samsara hedge fund in September 2007. 

 

The MPC Strategic Opportunities fund is managed by Miles Geldard and was soft launched in July this year with $25m. It has posted positive results for each of the difficult summer months giving a total return of 3.22%.  MPC Investors will look to initially raise a maximum of $500m for the fund.

 

The MPC Strategic Opportunities fund uses the same investment approach as the MPC Strategic Reserve Fund, which was launched in January this year. MPC Strategic Opportunities uses the full flexibility afforded to it as a Cayman domiciled fund and is targeting returns of at least 15% per annum with a volatility of less than 9%. The MPC Strategic Reserve Fund is a low risk macro strategy with target returns of 7-8% per annum. Miles Geldard’s team are now running over $700m at MPC Investors. 
 
The MPC Strategic Opportunities Fund aims to take advantage of macro opportunities throughout the world.  Miles has a fundamental contrarian based approach and looks to implement his decisions through stocks where possible, structuring all his trades to achieve an asymmetry of the likely pay off.  At any one time the fund will be taking advantage of a number of different macro opportunities.  It is this diversification that ensured Miles made consistent returns through the Fund’s first three months and over the 10 years Miles has been managing macro strategies. 

 

In addition to the MPC Strategic Opportunities Funds MPC Investors manages three additional hedge funds. The MPC Pilgrim Fund and MPC Pilgrim Select Fund are managed by John Innes, and the MPC Samsara Fund by Ajay Gambhir.
 
Commenting on the opening of the Fund, Peter Harrison, Chief Executive at MPC Investors, said:

 

“The financial markets and economic cycle are at an inflection point where central banks are torn between a focus on maintenance of growth or suppression of inflation.  This environment provides one of the most exciting opportunities for macro funds that we have seen in a long time. 

 

“Having worked with Miles for 10 years I am convinced that his fundamental, contrarian style is best suited to this kind of environment.  I also believe that his approach differs to many of the macro funds in the market.  Not only does he have extensive experience across asset classes, regional markets and derivatives but his portfolio construction techniques also afford investors a complementary return and volatility profile to their other macro funds.”

 

About the MPC Strategic Opportunities fund:

 

• Target return:  In excess of 15% per annum
• Currency: USD / EUR / GBP
• Investment Manager: MPC Investors London
• Custodian/Administrator: HSBC
• Prime Brokers: UBS and Morgan Stanley