Man GLG announced the launch of a new multi-strategy credit Alternative UCITS. The fund will invest globally and combines convertible arbitrage, long-short credit and capital structure arbitrage strategies in one vehicle.

Fund manager Chris Huggins commented on the launch by saying: ‘Spreads have widened, dollar cash rates are sucking liquidity from risk assets, and the frequency of large idiosyncratic prices moves has increased. With the ability to invest on both the long and short side across multiple areas of the credit market globally, and with access to a team with deep expertise investing in these markets, I believe we are well positioned to take advantage of these changing dynamics.’