Monday, 22 September 2014
Last updated 7 hours ago
Dec 15 2011 | 1:48pm ET
A Texas real-estate investor is giving hedge funds a try.
Daniel Dower has founded Texas Business Strategies in Dallas and has launched his maiden hedge fund, a concentrated, long-biased large-cap strategy. The Stanchion Fund, whose strategy Dower has tested in several separately managed accounts, will hold between 12 and 25 positions in just five to 10 companies, HFMWeek reports.
The hedge fund was seeded by TBS and a high-net worth investor. Dower, formerly CFO at private real-estate fund Chi Investment Corp., hopes to raise $5 million for the fund next year.
"We find that the low-debt multinationals are well-positioned to tap into growth in emerging markets," Dower told HFM. "Many managers focus on attempting to gain information advantages on small-caps, but we believe we achieve superior returns with much less risk in the large-cap space by using active management based on relative fundamental analysis."
Stanchion charges 1% for management and no performance fee. There is a $25,000 minimum investment and no lock-up.
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