Sunday, 3 May 2015
Last updated 2 days ago
Oct 1 2010 | 12:08pm ET
After more than a year of work, Union Capital Management has launched its maiden hedge fund.
The UCM Union Delta Fund debuted today, HedgeCo.net reports. The long/short equity vehicle will focus on growth stocks, with an emphasis on fundamental research.
“Our strategy is to make investments in winning growth stocks, monitor fundamental changes and constantly look for early evidence of deceleration to sell,” Robert Krumme, chief operating officer, told HedgeCo. “Knowledge of the underlying company fundamentals combined with knowledge of prevailing market forces are essential components in anticipating changes to a company’s growth prospects and for positioning the portfolio to protect capital.”
It is unclear how much the Philadelphia-based firm raised for the offering.UCM, founded by former Delaware Investments and Neuberger Berman portfolio manager Rudy Torrijos, had been seeking $500 million. JPMorgan Chase is the firm's prime broker.
UCM’s first fund is a collaborative effort, helmed by Torrijos, who serves as chief investment officer, Krumme, trading and risk manager Christopher Gaine and analyst Erik Fordyce.
“The name ‘Union’ was selected to signify the coming together of all people to support a common goal,” Torrijos explained.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…