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Advent expands UCITS offering with Global Absolute Return Strategy


Advent Capital Management is to launch a new UCITS regulated umbrella fund domiciled in Ireland, which will include the Advent Global Absolute Return Strategy, during the second quarter of 2015. 

The UCITS fund marks the first alternatives product in Advent’s UCITS offerings and is an extension of Advent’s successful Global Opportunity Strategy. It will be co-managed by portfolio managers Odell Lambroza and Matthew Dundon.

Advent has built a seven-year track record in its global opportunities, relative value and event-driven focused hedge fund, positioning the Global Absolute Return Strategy to invest in similar opportunities across geographies, while complying with the UCITS IV framework. The strategy is flexible and opportunistic, spanning corporate capital structures and leverages the knowledge of Advent’s expert in-house investment research team. The new UCITS fund will be asset class agnostic and will be optimally positioned to implement Advent’s fundamental views under various market conditions.

“The expansion of our UCITS product offerings into alternatives reinforces Advent’s dedication to our European investors and reflects our proficiency in the alternatives space,” says Kris Haber, Chief Operating Officer at Advent Capital. “Given the number of opportunities that currently exist in fixed income, offering a credit UCIT strategy is a natural step for Advent and our clients,” said Robert Gourlay, Managing Director and Head of European Business Development. “The product is an excellent complement to our existing lineup and meets the significant credit demand we’ve had from our relationships in Europe.”

Odell Lambroza has 24 years of industry experience, the last 13 of which he’s spent at Advent managing the Global Opportunity Strategy and investing across the entire capital structure. Prior to Advent, he served as Managing Director of the Convertible Securities Department at SG Cowen and as Vice President of Structured Equity Derivative Products, Asset Swaps, and Convertible Trading at Merrill Lynch.

Matthew Dundon joined Advent from Pine River Capital where he co-led a team of analysts focused on North American high yield, distressed debt, reorganised equities and messanine investing. He was also involved in distressed and special opportunities in Asia, Europe and the Middle East. Prior to Pine River, he was head of research at GMP Securities and has also practiced leveraged finance and securities law.

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