Monday, 1 September 2014
Last updated 3 days ago
Feb 1 2011 | 5:15am ET
Hedge fund Zadig Asset Management is going long-only.
The London-based firm will launch the new vehicle today, Bloomberg News reports. The Zadig Memnon Fund will be a concentrated affair, investing in no more than 30 companies, but will have a big appetite for assets, all the same: Zadig may raise as much as US$4.1 billion for the fund.
Memnon is having a more modest start, set to debut with €140 million. The fund aims to capitalize on what Zadig sees as unreasonably low valuations in the stock market as skittish players run the other way.
“People have been exhausted by the equity markets,” managing Partner Pierre Philippon said. “You had the tech bubble and the subprime crisis, and they have just lost complete faith. It’s gone too far on the side of cheapness.”
Among the stocks eyed by fund managers Laurent Saglio and Vincent Bourgeois are Banco Bilbao Vizcaya Argentaria and Nasdaq OMX, Philippon said. The duo are targeting returns of 10% annually in excess of the MSCI Europe ex-U.K. Index.
Saglio has been at Zadig, running its €300 million flagship hedge fund, for more than five years. Bourgeois joined the firm from HSBC Holdings in December.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...