Fairtree Asset Management (Pty) Ltd, a multi- strategy alternative and long only investment manager, with approximately $4 billion of assets under management, has selected Prescient Fund Services Ireland as the UCITS Management Company and Fund Administrator for its first Irish UCITS fund.
The Fairtree Global Flexible Income Plus Fund, launched in January 2019, is a sub-fund on the Prescient Global Funds plc platform.
The fund has as its primary objective the generation of a high level of current income primarily through investment in debt and debt-related securities.
The fund manager, Paul Crawford, who heads up his fixed income investment team from London, believes that, “Investment markets are not always efficient and so Fairtree employs a systematic strategy to identify mispriced opportunities in credit markets, which can be taken advantage of to generate superior risk-adjusted returns for our clients.” Speaking from London he notes that, “Although the fund has a global focus, due to our location in the UK and position within the Euro time zone, we prefer to access global credit opportunities through the liquid European markets.”
Fairtree has offices in London, Johannesburg, Cape Town, Guernsey and the Hague, with its clients including a number of sovereign wealth funds, insurers and global allocators based in the Americas, Europe and the Middle East.
On the decision to select Prescient, Herman Sandrock, Head of Distribution at Fairtree, commented, “We are delighted to extend our existing partnership with Prescient, and we look forward to partnering with them on this new, exciting phase as we grow our business internationally.” Francis Wheeler, Fairtree Head of Institutional Business, added, “Our global network continues to expand as we are approached for access to our specific fund management abilities and alpha skill sets. The launch of our first Irish UCITS is a natural extension of this journey with our valued clients.”
“The Dublin team is proud to be able to deepen the strong relationship that Prescient has developed with Fairtree over the years and we look forward to working with them on this and future Irish funds as their international business grows,” commented Rob Childs, Head of International at Prescient Fund Services Ireland.