Vega Asset Management has launched two funds drawing on its main strengths in the global macro strategy.
The Taurus Fund, managed from New York by Bala Kasturi and Sanjeev Gupta, opened for investors on 1 March aiming at a 15% net annual return. On about $40m cash managed since April 2002, the unleveraged Taurus has had volatility of 5.4% and Sharpe ratio of 2.8. It uses business cycle analysis to choose themes, and will invest up to half its assets in equities. In its fixed income portion, it
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