Ex-Merrills MD sets up two funds for Dalton

Former Merrill Lynch Investment Managers managing director Andrew Dalton has established the Dalton Strategic Partnership, which is believed to be planning to launch two hedge funds at the start of December.

It is thought the London-based limited liability partnership is looking to launch one global macro and one fixed income and currency fund, domiciled in the Cayman Islands and listed in Dublin with dollar, euro, sterling and yen denominations.

The launches would come at a time many fund of