UCM Partners has launched the UCM MIDAS Fund, with $10 million in assets under management.
The fund is a private, co-mingled fixed income fund intended to maximize total return while limiting risk to capitalize on relative value opportunities in the RMBS, CMBS, and ABS sectors, according to a UCM press release. The fund’s target return is currently 25% -35%.
UCM’s Chief Investment Office Jay Menozzi is the manager of the fund.