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Enso Capital and UBS form JV to establish new fund company

Enso Capital Management and UBS Fund Advisor have formed a joint venture for establishing UBS Enso Management. UBS Enso will act as the investment adviser of the UBS Enso Fund, a newly formed, registered, closed-end investment management company.

The new investment company is available to UBS clients who meet the requirements for a ‘qualified client’ under rule 205-3 of the Investment Advisers Act of 1940.

In managing the fund, UBS Enso will invest both long and short in a broad range of global equity securities. The fund’s investment objective is to achieve consistent risk-adjusted returns that are uncorrelated to both general market indices and hedge fund indices, while at the same time preserving capital and minimizing downside risk and volatility.

UBS Enso will draw on the strengths and expertise of UBS and Enso. Within the joint venture, portfolio managers from Enso will provide day-to-day management of the fund’s investment portfolio and UBS personnel will oversee their activities.