Deutsche Bank has partnered with Toscafund to launch a Ucits III version of the Tosca Mid Cap fund.

The fund, launched on Deutsche Bank’s Platinum platform, will seek to mirror the Tosca Mid Cap Fund managed by Martin Hughes, the founder of Toscafund, and Paul Compton.

In 2009 the Tosca Mid Cap Fund was one of the best performing long short equity funds in Europe, rising 104 per cent net of fees.

The portfolio managers aim to invest in equities offering both value and growth opportunities using a bottom up research-based approach. The choice is diversified and includes international growth companies and domestic recovery situations.

Hughes says: “We firmly believe that the experience and contacts of Paul and myself offer a strong platform for continued outperformance versus peer groups. As the largest current investors in the fund our interests are totally aligned with our objective to maximise future returns.”

Anthony Byrne (pictured), European head of Prime Finance at Deutsche Bank, adds: “We are pleased to partner with Toscafund in launching a Ucits III version of the Tosca Mid Cap Fund. As with all Ucits III products, this will enable the fund to be accessible to a wide community of investors in a transparent and liquid format.”