The Salus Alpha RN Special Situations fund has raised USD20m from new investors since it launched on 22 March 2010 and is up 3.14 per cent after its first month.
“The remarkable raise in money combined with the extraordinary performance nearly exceed all our expectations for the first month,” says Oliver Prock (pictured), chief executive of Salus Alpha Capital. “This is one of the most successful fund launches for us. We are impressed by the great interest of the investors for the fund; this shows that as pioneer in Ucits alternative we are exactly on the right path.”
The fund combines a core portfolio of a few selected top companies (30 to 40 per cent) and the opportunistical exploitation of opportunities in special situations (zero to 70 per cent).
The fund invests only in companies whose business models have been thoroughly analysed by Roland Neuwirth and his team.
It seeks to exploit opportunities in special situations, such as merger and acquisitions opportunities, changes in capital structure, management changes, share buy backs, director’s dealings, IPOs or capital increases, index changes or profit surprises.
Neuwirth has over 15 years’ experience as a stock analyst and broker. Before joining Salus Alpha he was managing director at Deutsche Bank Vienna, responsible for equity research in Austria.