Mygale continues the successful strategy employed by Neil Tofts for over 25 years at firms including Deephaven Capital, KBC Alternative Investment Management and Merrill Lynch. The team employs a differentiated investment approach built on sceptical research, disciplined position selection and active trading to capture additional alpha in every position. Investments are challenged and considered from multiple angles with fundamental in-house research that is completed by systematic consulting of the market through deep local broker relationships and industry specialists. Trades are structured with the intention of embedding optionality and favourably skewing risk, with a preference for situations that have a fundamental value underpinning, a clear rationale and the possibility of bump catalysts or counter bids. The team dislikes crowded trades and binary outcomes with heavy downsides, and avoids the ‘home run’ mentality.
Chief Investment Officer
Chief Investment Officer Neil Tofts has over 27 years o... See all
Chief Investment Officer
Neil Tofts has over 27 years of investment experience and 25 years managing Event Driven portfolios. Most recently Managing Director and Head of Event Driven Investments at Merrill Lynch. Previously Neil was Head of Global Event Driven Investments at KBC Alternative Investment Management, where he established and ran a 4 person team. In 2000, Neil founded the European business of Deephaven Capital, where he was responsible for European Focused, Global Event Driven investing. In 2005 Neil established and oversaw the Fundamental Equity Long/Short team of 4 people. Neil has also managed Event Driven Investments at Paribas and NatWest Markets, having started his career in equity derivatives. Neil graduated with a BA (Hons) in Business Studies from Oxford Brookes University.
Co-Founder and Senior Analyst
Co-Founder and Senior Analyst Ken Li was previously a ... See all
Co-Founder and Senior Analyst
Ken Li was previously a Vice President at Bank of America Merrill Lynch in London where, most recently, he had full responsibility for the European Event Driven Trading Franchise. Prior to this, Ken Li worked with Neil focusing on investment idea generation, research and trading in Event Driven situations. He has over 12 years investment experience, having joined Merrill Lynch in 2008 where he was responsible for a fundamental equity portfolio as well as index and portfolio trading. Ken Li graduated with a BA (Hons) in Economics from the London School of Economics and Political Science, and is a CFA Charterholder.
TRADING APPROACH
• Three tiered method designed to capture additional alpha for every position
• Sharpened timing and market feel from trading background
• Trades structured to embed optionality and favourably skew risk
• Relatively low net to keep exposure event specific
SCEPTICAL RESEARCH
• Frequent questioning of our investment thesis
• Fundamental in-house research with an understanding that company specialists may know more
• Systematically consult the market through deep local broker relationships and industry specialists
• Not wedded to positions and do not believe we have the ‘information edge’
POSITION SELECTION
• Look for trades with fundamental value and situations with the possibility of counter bids and bump catalysts
• Always seek to diversify the portfolio to smooth the return stream and avoid the ‘home run’ mentality
Waystone Investment Management (IE) Limited, 23 St. Stephen's Green, Dublin 2, D02 AR55, Ireland is licensed to provide Investment Management services to Professional Clients (including Collective Investment Schemes) by the Central Bank of Ireland.
MontLake UCITS Platform ICAV is an umbrella open-ended Irish collective asset-management vehicle with segregated liability between Funds formed in Ireland under the Irish Collective Asset-management Vehicles Act 2015 and authorised by the Central Bank as a UCITS pursuant to the UCITS Regulations.
The Manager of MontLake UCITS Platform ICAV is Waystone Fund Management (IE) Limited, a company regulated by the Central Bank of Ireland.
This website is directed mainly for professional and institutional clients who possess the necessary experience, knowledge and expertise to make their own investment decisions and properly assess the risk that it incurs.
Information on this website was obtained from various sources and the company does not guarantee its accuracy. The information is for your private use and discussion purposes only and expressed views and opinions may change.
The Performance figures quoted refer to the past and past performance is not a guarantee of future performance or a reliable guide to future performance. The value of your investment and their income may go down as well as up.
Your investment may also be subject to currency, interest rate, as well as market fluctuations. Consequently the Investor may not get back a sum equal to that he / she originally invested.
Investors should note that an investment in those Sub-Funds which may invest in emerging markets should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors.
The Sub-Funds may invest in Over the Counter as well as Exchange Traded derivative instruments to enhance return or hedge against fluctuations in security prices or market rates as well as to short sell a security through the use of a derivative instrument. Transactions in derivative instruments involve a risk of loss or depreciation of capital due to adverse changes in security prices, exchange rates or interest rates or in the case of OTC instruments default of Counterparty. This investment may not be suitable for all types of investors. It is therefore recommended that you consult your investment advisor.
A commission or sales fee may be charged at the time of the initial purchase for an investment and may be deducted from the invested amount therefore lowering the size of your investment. The Investment Manager will be entitled to receive a performance fee as well as a management fee, calculated on a daily basis and paid quarterly by the sub-funds.
The Levels and bases of taxation are dependent on individual circumstances and subject to change and therefore it is highly recommended that you consult a professional tax advisor.