Healthcare Hedge Fund Offers Short Strategy

Nov 3 2010 | 2:53am ET

Short-bias has been among the worst performing hedge fund strategies this year as the stock market rebounds, but that isn't stopping one firm from launching just such a fund focused on the healthcare industry.

GRT Capital Partners has spun off the short book of its long/short healthcare fund, which debuted in 2003. The new fund will employ fundamental research led by manager John Borzilleri, the firm's founder, reports.

"Healthcare is an attractive area for shorting stocks—considerable market inefficiencies can lead to extreme valuations for fundamentally unsound companies," Borzilleri said. "We believe our long-term success in shorting healthcare stocks can provide investors with a unique strategy to generate strong absolute returns, serve as a unique source of alpha, and diversify conventional investment portfolios."

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