Dalton Strategic Partnership is to change the name of their Ucits III compliant Melchior Selected Trust European fund. The new name from the 1st September 2010, will be the Melchior Selected Trust European Absolute Return Fund. The name change is to be implemented to describe more clearly the investment strategy of the fund.

The fund, managed by Leonard Charlton, was launched in February 2010 with €4 million and has now grown to over €50 million and achieved a positive return of 1.4% which compares favourably with European equity markets which have fallen 2.4% over the same period and with the majority of other equity long/short funds on the market.

Commenting on the announcement, Magnus Spence, Partner at DSP, said: “Our onshore Ucits III compliant European fund has seen tremendous growth since launch and performed excellently against its peers. Our track record proves that we have the expertise and investment strategy in place to deliver positive returns in a variety of market environments.

“This fund has, under Leonard’s management, consistently generated alpha in volatile market conditions and it is these uncorrelated returns that mean we expect to see the Melchior Selected Trust European Absolute Return Fund continue to grow. In essence, what we offer is very simple. We offer investors access to a regulated fund which has daily dealing and which should deliver positive annual returns whatever the market conditions.”