As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.
Tuesday, 24 January 2017
Last updated 18 hours ago
Mar 16 2011 | 12:46pm ET
It's been a long time in coming, but hedge fund Grand Slam Asset Management is ready to meet the public.
The New Jersey-based firm, which launched its eponymous long/short equity hedge fund almost 10 years ago, is finally opening that fund to outside investments. And it's brought back an old face to help sell the fund to family offices and funds of hedge funds around the world.
Erik Volfing has returned to Grand Slam as CFO and chief operating officer. Volfing left the firm almost three years ago to become COO at Oranda Capital Management; prior to leaving Grand Slam, he served as CFO.
"The firm has really proved itself in all market conditions," Volfing told HFMWeek. "We feel the timing is right to become more institutional."
Grand Slam, which is led by Mitch Sacks, wants to increase its assets tenfold from its current $25 million. The fund has returned an average of more than 15% compounded over the past decade.
The fund focuses on U.S. value stocks, with 20 to 25 names in the long book and 10 in the short book. There is no sector bias, and Sacks prefers small- and mid-cap companies.