Long-Only Manager Gould Founds Hedge Fund

Feb 26 2010 | 12:12pm ET

Small-cap equities specialist Robert Gould proved too aggressive for Russell Investments, so he’s decided to join an industry where that quality is often rewarded.

The Gould Investment Partners chief is closing his $110 million traditional money management firm and launching a hedge fund, Spitfire Investment Partners. The new firm’s maiden fund, Spitfire Investment Fund, offers Gould “a bigger tool box” than his long-only funds, he told Pensions & Investments.

Spitfire opened its doors in October, and Gould Investment will close its in March, despite a seven-year track record of besting its benchmark by almost 12%. But Russell dropped Gould as a subadviser beginning last summer in favor of more conservative managers. But rather than go conservative, Gould is sticking to his guns and going hedge fund.

Spitfire is a global long/short equity vehicle.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...