Crux names FundRock to new Global UCITS mandate

FundRock has been selected by Crux Asset Management to provide management company services to its new global UCITS fund.

The deal will also see the Luxembourg and Ireland UCITS specialists take over supervision of some the delegated functions (portfolio management, central administration, distribution) and risk monitoring within the soon to be launched Crux Global Fund, the company said in a statement announcing the deal.

Established in 2014, Crux Asset Management is an employee-owned fund management firm headquartered in London. The Crux Global fund will launch one sub-fund at the outset, the Crux European Special Situations Feeder Fund, and will invest the majority of its assets into the £1.5bn Crux European Special Situations vehicle. The new fund will launch on 15 May, pending regulatory approval.

Mark Little, director of distribution at Crux said that the company chose to partner with FundRock for this new initiative based on their “expertise and high levels of client service”.

Little added that the new Luxembourg UCITS launch will offer “greater levels of accessibility” to the strategy to new and existing clients in Europe. “It is in line with our long-term commitment to broadening our distribution channels in the UK and across Europe which we believe have considerable growth potential,” he said.

FundRock is an independent third party UCITS Management Company and Alternative Investment Fund Manager, providing services for Luxembourg and Ireland-based funds.

ABOUT THE AUTHOR
Gary Robinson
Deputy Editor, International Investment and Head of Video at Open Door Media Publishing. A fully qualified journalist and filmmaker with more than 20 years' financial services experience, both as journalist and originally as an IFA.

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