Powe's European fund launches
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
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