Man GLG, Man Group's discretionary investment management business with AUM of $31.6bn as of December 2019, has launched the Man GLG US Absolute Alpha strategy, co-managed by Mike Corcell and Alex Robarts.
Using a long/short US equity approach that primarily invests in US large cap stocks, the strategy focuses on three key areas when assessing stocks: investment cycles, changing themes and secular trends. The portfolio managers focus their research on companies with highly transparent business models and a representative portfolio for the strategy would typically holds 60-70 stocks.
Corcell and Robarts joined Man GLG in 2019 from RWC Partners, where they managed a US long/short Ucits fund for 10 years. Corcell has more than 20 years' experience in US equity long/short investing from his time at RWC, SAC Capital Advisors and Columbia Threadneedle Investments. Co-manager Robarts worked alongside Corcell at both RWC and Columbia Threadneedle. He brings 20 years of experience to the portfolio, having also previously worked with Insight and Rothschild Asset Management.
Teun Johnston, CEO of Man GLG, said: "The US equity market remains the largest and most liquid in the world, and one that our clients want to access. Mike and Alex have an impressive history with this strategy; I believe clients will benefit from their experience, detailed approach to investing and the extensive support of Man GLG's technology and investment platform. At this point in the cycle, effective fundamental research is more important than ever, and Mike and Alex have an established track record of using in-depth analysis to deliver returns in a wide range of market environments."
Corcell, said: "Alex and I are excited to be a part of Man GLG, a firm we have long admired for its diversified profile of global strategies across long-only and alternative funds. We aim to generate risk-adjusted returns through various business cycles and our disciplined approach to bottom-up analysis which we believe has proven itself over time. We are focused on aiming to mitigate risk of capital loss, and to that aim we utilize short positions to add alpha rather than simply acting as hedging strategies."