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Paulson quits Schroders mandate over Ucits constraints

The hedge fund veteran’s firm has severed ties with Schroders due to regulatory requirements.

Paulson quits Schroders mandate over Ucits constraints

John Paulson’s investment firm has quit its Schroders mandate over concerns about whether it will be able to continue to meet Ucits portfolio rules. 

According to our sister site Citywire Selector, the US group said it would be ‘increasingly challenging’ to meet rules governing how the Schroder GAIA Paulson Merger Arbitrage fund is run.

Schroders has therefore taken the decision to liquidate the fund, according to a shareholder note seen by Citywire Selector. The final trading day for the fund was 29 March.

The two companies first announced plans to work together in April 2014 in an effort to offer access to Paulson’s alternative merger arbitrage strategies through a regulated Ucits framework.

The fund was officially launched in June 2014 and had $57.7 million (£47 million) in assets as at the end of February 2018.

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