Pharos Financial Group's Kevin Dougherty plans to launch his own hedge fund next year with a wider ambit than his current employer's focus on Russia.
Dougherty will leave the Moscow-based firm to set up a global emerging-markets fund in London, Bloomberg News reports. But even though he'll look more widely at investment opportunities in other emerging markets than he does as a portfolio manager at Pharos, whose flagship fund focuses on Russia, he still remains bullish on that country.
"Even as I will be focusing more on the other emerging markets, I remain a big believer in the value and investment potential of the Russian market," he told Bloomberg.
Pharos was founded in 1997 by Peter Halloran with the backing of Soros Fund Management. It has returned more than 10-fold over the past 10 years.