Union Bancaire Privée, (UBP) is launching a new technology-focused long/short fund on its alternative UCITS platform in partnership with New York-based alternative investment manager Shannon River Capital Management (Shannon River).

The fund, U Access (IRL) Shannon River UCITS, is a new strategy which will allocate capital across SMID cap and mispriced growth stocks in technology-related sectors. The investment focus will be in areas where disruptive technological changes have occurred, such as intellectual property, software, media, entertainment, equipment, connectivity and logistics.

It will adopt a fundamental approach, with research will focusing on two main pillars: technological innovation and consumer behaviour..

Nicolas Faller, co-chief executive officer of asset management at UBP, said: “We are very happy to partner with Shannon River for this new alternative UCITS fund. We believe there is a fertile ecosystem made of investment opportunities in winning and losing mispriced SMID growth stocks impacted by secular opportunities in this technology thematic. Spencer Waxman and his team represent one of the most impressive investment firms in that field.”

Spencer Waxman, founder & chief investment officer at Shannon River, added: “We are pleased to be partnering with UBP and their proven UCITS distribution platform. Having successfully managed our technology-focused long/short strategy for 16 years now, we are excited to extend the offering to the broader UCITS audience and contribute to the diverse product offering that UBP’s platform provides."