Powe Capital Management, the company founded by former Invesco Perpetual fund manager Rory Powe, has launched a European equity long/short hedge fund called Modulus Europe.
The fund aims for absolute returns and has an annual management fee of 1.5% plus a performance fee of 20%, subject to a high watermark. It has two share classes, euro and dollar, and a minimum investment of $500,000.
The Dublin-listed, Cayman Island-domiciled fund is aimed primarily at institutional investors, private banks,
- Brexit novations ‘on hold’ to gain reg relief
- People moves: Bank of America names new Apac chiefs, Wilkinson leaves LGIM, Lloyds loses Coutte, and more
- Mifid data publishers drag feet on Esma guidelines
- Banks hope final FRTB rules will ease NMRF burden
- Sefs, Libor fallbacks and risk governance in Asia