Mygale continues the successful strategy employed by Neil Tofts for over 18 years at firms including Deephaven and Merrill Lynch. In contrast to many other event managers, Mygale are not wedded to their positions, instead frequently questions their investment hypotheses. They complement fundamental in-house research by systematically consulting the market through deep local broker relationships and industry specialists. The team prefer situations where they can identify counter-bids or bump catalysts and trades with fundamental value underpinning, rather than binary outcomes with heavy downsides. They actively trade positions aiming to capture additional alpha.
Chief Investment Officer
Chief Investment Officer Neil Tofts has over 18 years o... See all
Chief Investment Officer
Neil Tofts has over 18 years of successfully running event driven portfolios and funds and 21 years in derivatives. He has set up teams and desks at every previous position he held, and he fosters a team approach encouraging ownership and responsibility. Most recently, as a Managing Director and Head of Event Driven Investments for Merrill Lynch in London he was responsible for a European focused, Global Event Driven portfolio. From 2007 he was Head of Global Event Driven Investments at KBC Alternative Investment Management in London where he established and ran a 4 person team. Prior to joining KBC AIM, Neil founded the London office of Deephaven Capital Management in 2000. At Deephaven Neil was responsible for Non US Event Driven Investing and managed portfolios for the Multi-Strategy Fund as well as a stand-alone Event Driven Fund launched in 2004. In 2005, Neil established and oversaw the Fundamental European Equity Long/Short team of 4 people. As well as managing the investment portfolios Neil spent much time setting up the European infrastructure and recruited the operations and support teams as necessary. Neil has also managed Event Driven investments at Paribas and NatWest Markets, having started his career in equity and equity derivatives trading. He 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 six years of investment experience, having joined BofAML in 2008 and has also been responsible for a European focused 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.
• 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
• 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’
• 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.