Thursday, 25 December 2014
Last updated 1 day 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.