Hedge Funds Review - 2008-08-12

CARE Capital Group - August 2006

There are four funds managed by the CARE Capital Group. The two main funds are the CARE Market Neutral Fund (CMNF) and the CARE Market Neutral Sub-Trust (CMNST).

Corazon Capital - August 2008

Corazon Capital is an independent asset manager based in the Channel Islands with offices in Guernsey and Jersey, providing tailored investment solutions to private clients and institutions on a discretionary, advisory and execution-only basis.

M&G Episode - July 2008

The fund takes a global macro approach investing in equity, fixed income and foreign exchange in developed and emerging markets.

Orchard Fund - May 2008

Selecting and investing in well-managed companies at fair market value prices is the way to go, according to Orchard Wealth Management (OWM).

Morley G7 Fixed Income Fund (EUR) - July 2008

The G7 fund, launched in February 2003, has its shares quoted on the Irish and Channel Islands Stock Exchanges. The principal investment objective and policy of the G7 Fund is to deliver an absolute return to investors by taking long positions and short…

Argo Global Special Situations Fund - July 2008

Argo Global Special Situations Fund is a long/short emerging market debt fund principally investing in sovereign and corporate debt, bank loans, senior or secured bond issues and local currency products. It also makes opportunistic investments in special…

SilverStreet Captial - May 2007

SilverStreet Capital is looking to launch a pooled global funds of hedge funds product in summer, following on from the launch of its managed account service to institutional investors earlier in April.

Renaissance Investment Management - April 2007

While the bread and butter of Moscow-headquartered Renaissance Investment Management’s (RIM) clientele s currently Russian high-net-worth individuals and ome domestic pension funds, the alternative products division with an eclectic range of hedge funds…

Polar Capital - February 2007

As Polar Capital heads towards an admission to London’s AIM market, its CEO Mark Kary explains its plans, and how it has kept its entrepreneurial culture despite surpassing $3bn in assets.

Gems Advisors = December 2007

This year has been a good one for Gems investors. Gems Recovery (up 33.87% year to date to 31 October) recently won the Hedge Funds Review European Hedge Funds award as the Best Performing Specialist Fund of Hedge Funds over three years. Gems Multi…

CDCapital - June 2007

London’s CDCapital, investing in pre-IPO commodities firms, draws its initials from those of its founder Carmel Daniele, but they may just as easily stand for ‘Chinese demand ‘ when it comes to finding profitable exits from trades.

Citigroup Alternative Investments - February 2007

Citigroup Alternative Investments (CAI) came close – “reasonably close,” is the way Dean Barr puts it – to buying Amaranth Advisors after the hedge fund imploded last September, losing $6 billion bad energy bets in one week.

Credit Suisse - May 2007

The future for the hedge fund industry lies with the bespoke advisory business, predicts Stephen Smith, managing director of alternative investments at Credit Suisse.

Nara Capital - March 2008

Niche strategies are the way to go for small companies wishing to launch new hedge funds, according to Dominique Grandchamp, a partner in Nara Capital.

Vltava Fund - May 2008

Daniel Gladiš, the boyish looking director and lead portfolio manager of Vltava Fund, has never questioned his decision to set up in Malta.

New Jersey State Investment Council - March 2007

New Jersey’s pension fund, under the direction of Orin Kramer, is implementing a relatively modest allocation to hedge funds, yet even that was too much for some trustees in a fund that had never used an outside manager before.

Alpha Gen Eta Cas Fund Class A USD - July 2008

The Alpha Gen Eta Cas Fund Class A USD is an open-ended investment company incorporated in the Cayman Islands and listed on the Irish Stock Exchange. Its structure is an open-ended investment company incorporated in the Cayman Islands.

Occo Eastern European Fund - July 2008

Charlemagne Capital manages $5.7 billion, focusing entirely on emerging markets equities. The Occo Eastern European Fund uses a long/short equity strategy with a bottom up value approach.

Finch Africa Fund - June 2008

Jenni Chamberlain, portfolio manager of Finch Africa Fund, spent 12 years working in African markets in a variety of investment banking and corporate advisory roles. This experience convinced her that Africa was ripe for investment.

Winton Futures Fund - July 2008

Winton was founded by David Harding in 1997. Winton’s founding principle was the belief that robust statistical research provides the richest and most reliable source of information on market behaviour

Augustus Asset Managers - March 2007

It took Tim Haywood quite some time to buy Julius Baer Investments free from the Julius Baer parent group. Now, at the group renamed Augustus Asset Managers Limted, he is casting his eye forward.

Halbis - February 2008

There has been much talk of late about the acquisition by large banks of smaller hedge fund boutiques, and just how independent the latter remain after their subsuming by the former.

Oceanic Hedge Fund - July 2008

The Oceanic Hedge Fund (OHF) invests in shipping, oil services and energy equities as well as the associated freight forward agreements and commodities.

Permal Investment Managers - August 2007

While getting the strategy and manager mix right may be the ‘visible’ end of a successful fund of hedge funds house, Permal’s Omar Kodmani explains advances, such as those in technology are also allowing the $35 billion London house to differentiate…

Odey European Inc - July 2008

Odey Asset Management was set up in 1991 with a focus on active management and a concentration on the investment result rather than adhering to any particular investment style.

Cambridge Strategy Asian Alpha Currency Fund - July 2008

The fund aims to profit from short and medium term moves in the Asian market currency pairs. To achieve this, the company employs a systematic approach, designed to perform across diverse market environments. This combines two types of trading strategies.

Nevsky Fund (USA) - July 2008

The Nevsky Fund, launched on September 29, 2000, is a Cayman based open-ended investment company listed on the Irish Stock Exchange. The fund, denominated in US dollars and offering a hedged euro share class, is currently closed to investors.

Trafalgar Catalyst Fund - July 2008

The Trafalgar Catalyst Fund is an event driven hedge fund focusing on strategies around corporate events such as takeovers, mergers, bond reorganisations, liquidations and other special situations.

Stanley Fink - October 2006

TAs Stanley Fink announces the forthcoming resignation of his CEO seat at Man Group in 2007, those who have seen the industry grow with him reflect on his achievements, and assess his legacy both for Man Group, and for the broader hedge fund industry.

Sabre Style Arbitrage Fund - July 2008

Sabre Style Arbitrage combines statistical arbitrage with quant equity market neutral strategies. This niche methodology is designed to capture longer term returns generated by economic cycling and short-term returns attributable to investor behavioural…

Dexion Trading - July 2007

The rush to launch permanent capital vehicles has not slowed, despite the grandfather of London’s closedended, listed vehicle market replacing the manager of one of its key funds of funds due to what it saw as underperformance.

Wessex Natural Resource Fund - July 2008

The Wessex Natural Resources Fund builds on the key strengths of Wessex Asset Management in the resources sector. WAM co-founder Peter Chesterfield is a geologist and mining analyst by background.

Corbin Capital Partners - March 2008

If you need an example of a fund of funds manager that has a particular penchant for the foundation and endowment sector, then one need look no further than Tracy McHale Stuart, chief executive officer at Corbin Capital Partners.

Redington Partners - January 2008

Redington Partners is a pension consultancy with a difference. As its co-founders Dawid Konotey-Ahulu and Robert Gardner explain, the founders of the Londonheadquartered firm, with around $120bn liabilities under consulting, have their roots firmly in…

Threadneedle Investments - August 2007

Flux is a good thing if you know what to do with it. In changing markets that produce evolving opportunities, some of the hedge fund managers at Threadneedle Investments sat down in London recently, to discuss the challenges and opportunities the markets…

Stenham - February 2008

Stenham has made quite a skill out of making decisive and far-sighted decisions at the right time. Back in 1987 when long-only markets headed south, Stenham’s management decided to forego long-only completely in favour of multi-manager hedge fund…

IGS Group - October 2007

IGS Group was formally launched on 2 January 2007, after John Godden, back from his gardening leave, following his departure from HFR Asset Management, returned to the industry that he loves to create a full-service hedge fund consultancy.

Dalton Investments - May 2008

Dalton Investments sees value in many places - from distressed companies in the US to the Asian markets. Its latest fund is eyeing the prospects and opportunities emerging from the subprime crisis.

Epsilon Futures - May 2008

Mathematical and statistical models are the way to predict futures trends in the market, according to Phillippe Balthazard, head of managed futures and systematic funds at Barep Asset Management.

Carpe Diem Group - December 2006

The Carpe Diem Group is setting up to capture the growth of the hedge fund industry in a number of ways, not least of which is building a Swiss bank and listing on London’s AIM.

Cornell Capital Management - September 2006

Cornell Capital Management is one of the world’s most significant PIPE investors: according to Knobias’ pipeTRAC database, Cornell ranked first among its peers in both deal value and number of deals for PIPEs in the year to May 2006.

Man AHL Alpha - July 2008

This product is designed to offer institutional investors absolute capital growth potential over the medium-term while restricting the associated risk. Using a technical approach and a range of investment time frames, the fund seeks to capitalise…

Polo Fund - November 2006

Polo Fund is a Latin America event-driven fund. The philosophy of the fund is to provide exposure to specific risk, and not market risk, via Latin equities.

Caliburn Capital - January 2007

Caliburn Capital’s has a top-down focus on its institutional FoHF products, pursuing themes and those managers it deems most likely to exploit them successfully,

Meditor European Hedge Fund - July 2008

Meditor was established in 1998, by a founding team of three portfolio managers who previously held the leading long term position in the European equities mutual fund performance tables. Since then the group has grown to number 30 employees, including…

Ecofin - July 2008

Ecofin specialises in the global utility and infrastructure sectors providing discretionary fund management services and advice to institutions and corporations with an interest in utilities and infrastructure industries.

Harris Alternatives - July 2007

There is a thriving fund-of-hedge-funds culture in Chicago, according to Scott Schweighauser, partner and chief investment officer of Harris Alternatives, a fund of hedge funds manager with approximately $11bn under management.

Coriolis CaTpricorn -- July 2008

This fund invests in natural catastrophe bonds and options related to hurricanes, typhoons, earthquakes and other natural catastrophes. It is diversified geographically. It employs a stringent risk management process to limit the exposures per region and…

Hexam Capital - May 2007

Managers at boutique Hexam Capital have vowed Hexam will not have more than six partners, will cap assets at $3bn, and abide by process.

BlackRock Natural Resources Hedge Fund - July 2008

The BlackRock Natural Resources Hedge Fund maintains a flexible investment style and seeks to identify and exploit anomalies and investment opportunities across the natural resources sector, including the production of minerals, metals, oil, gas, energy…

Dexion Trading - April 2008

Dexion Trading was originally launched in November 2004 following the success of Dexion Capital’s previous listed fund of hedge funds, Dexion Absolute Limited and Dexion Equity Alternative.

Carrousel Capital - March 2007

Investment trust shareholders may once have been told to take the good of liquidity with the bad of wide discounts to net asset value. London arbitrageur Carrousel Capital takes a different view.

The Argo Fund - July 2008

The Argo Fund is a long/short emerging market debt fund that principally invests in sovereign and corporate bonds in both hard and local currencies. It makes opportunistic investments in special situations and distressed debt.

Fitzwilliam Commodity Plus Fund - July 2008

BDO Stoy Hayward Investment Management believes it has a forward-thinking approach. This is displayed in its compelling macro and micro case for allocating to commodities via a diversified fund of hedge fund (FoHF) format.

Merrill Lynch - September 2006

Merrill Lynch’s prime brokerage offering has been busy rolling out new products – and team members – in 2006.Innovation and adaptation have been at the heart of the Merrill Lynch meritocracy for quite some time.

Libra Europe Fund - May 2006

The Libra Europe Fund was launched in 2001. Founding partner Bruce Mee began Eton Park and other hedge funds have backed Paternoster in what is becoming a highly competitive UK pension buy-out marketplace.

Frontier Capital Management - February 2008

Frontier Capital Management’s Michael Azlen is not just a self-confessed alpha sceptic, he is also a sceptic armed with a plethora of statistics to support his stance on why the majority of managers in traditional asset classes do not provide alpha and…

FRM Credit Alpha - December 2007

FRM launched into the permanent capital sphere with an in-house product, FRM Credit Alpha, in April, a month which may to some sound a somewhat ominous time to have raised capital for a credit strategy.

City Capital Corporation - April 2007

3C has an interesting range of funds and is launching into another based on options and futures trading, so bringing its investors returns from private equity through to a Japanese product focused on the China growth story.

Lehman Brothers - January 2008

Gunner Burkhart does not hesitate when asked what a hedge fund should look for when faced with a potentially confusing array of prime brokers, all trying to differentiate themselves.

Aspect Capital - November 2006

Aspect Capital has been enjoying the fruits of its founders’ foresight back in 1997 when, as Anthony Todd, chief executive officer explains, those who started the London-based equities and managed futures house saw “the beginnings of significant interest…

RP Explorer Fund - July 2008

The RP Explorer Fund is a multi-product, multi-asset class, emerging markets fund investing in private, pre-IPO opportunities in the EEMEA region.

MPC Investors - June 2007

London’s MPC Investors is looking at taking in at least an extra $600 million for its latest European fund launch and is setting itself up as a direct destination for institutional allocators.

Wyoming State - June 2006

Wyoming’s state treasurer begins searching for absolute return funds she offers some helpful advice on how to speak to uninitiated institutional investors.

The Children’s Investment Master Fund - July 2008

The Children’s Investment Master Fund is a long-biased, value, opportunistic fund that looks for businesses in three situations: under-researched and undervalued; those waiting for a catalystan event to happen or those where there is a belief activism…

Ermitage - September 2007

Jersey’s Ermitage has made a name for itself investing in leading managers, finding and mixing them to avoid the worst of market downturns goes far further than a good contact book.

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