Wednesday, 7 November 2018

Toscafund has launched a fund!

That's all right, ain't it? 'Yes, boss.' It's a UCITS fund. 'Oh, okay.' Yeah. Look -

6th November 2018 - Toscafund Asset Management ("Toscafund") and ML Capital are pleased to announce the launch of the Tosca UCITS Fund, a global long/short equity fund hosted on the MontLake UCITS Platform. MontLake is a leading independent platform for UCITS funds that provides investors with access to a range of Irish-domiciled liquid, transparent and regulated investment products.

Yeah, it's a PR email, dear reader(s). I've not written about Toscafund since November 2008. Here's a quote from that post -

Stories of liquidation, waves of fear, tears of rage, bound on a wheel of fire, rolling down the road, King Lear, Albert Steptoe, the fool, Angel Delight, the chaos, I awoke one morning, insect, in a nutshell, infinite space, Akaky Akakievich, peas, ha hoo ha, pride, one man and his dog, one man familiar with the situation, peaches, dentist, tax, fear of freedom, nausea, some of these days you'll miss me honey.

So, uh ... make of it what you will, dear reader(s). 'Ha! You were crazy in those days, boss.' Ha! I'm still crazy after all these years, Voice! / Anyway ...

Tosca UCITS, emulates the award winning offshore Tosca LP and invests primarily in equities across the entire value chain of financials globally. This large, liquid and diverse universe is rich in alpha, with varied drivers of profitability. Deep dive, fundamental analysis is at the core of the investment process where the six person strong investment team has over 90 years combined experience in this specialized and inherently complex area of the market. The team's extensive expertise as well as the breadth and depth of their contacts and relationships offers investors a significant and sustainable edge.

Universe? Whatever. No endorsement, obviously. I wish them all the best with it though. And I wish Johnny all the best, too. 'Johnny? Johnny who?!' The manager of the fund, man.

The fund will be led and managed by Johnny de la Hey, who has been the manager for Tosca since December 2008. He is supported by a team of analysts with expertise in global financials, property and business services.

Now that's interesting!!! He joined Toscafund just one month after my old post. 'I wonder why, boss.' It's obvious why, Voice. He was excited by the prospect of getting mixed up with fear of freedom, Angel Delight, tears of rage, and all the rest of it. 'Maybe.' Let's hear from the great man himself -

Johnny de la Hey, Portfolio Manager and Partner at Toscafund says: "We are pleased to be able to offer Tosca in UCITS format on the MontLake Platform. Our portfolio construction and risk management framework is already more exacting than the demands of UCITS and we are looking forward to being able to offer the strategy to clients who were precluded from investing in our offshore fund. Recent market moves mean we launch the Fund with an opportunity set which combines deep value rehabilitating incumbent businesses and genuine secular growth in newer technologically driven businesses. We would like to thank our early stage backers and have committed substantial amounts of our own capital to the launch".

Oh, okay. Thanks, Johnny! / As long as he's happy, I suppose ...


Anything else? In other news? America has become a bit more sane. Laters!