Flamand's Edoma Down In First Quarter

May 14 2012 | 1:24pm ET

Goldman Sachs' former top proprietary trader is still in a "frustrating" fight to find his footing at his hedge fund.

Pierre-Henri Flamand told investors last week that his Edoma Capital lost 0.85% in the first quarter. The year-and-a-half old hedge fund has yet to make a dime for investors—it's down 3.1% since its inception in November 2010.

Flamand raised US$2 billion for the fund, one of the most hotly-anticipated in recent years. But early returns have not repaid investor confidence, even as other hedge funds have enjoyed positive returns in the first quarter as the broader markets rallied.

Edoma acknowledged it missed out on that rally during what it called a "frustrating" period, characterized by momentum-driven trading.

"It is important to realize the high likelihood of this trend continuing, and to focus on the few stocks in Europe and elsewhere that have the requisite global growth and liquidity characteristics that asset allocators are favoring right now," the firm wrote.

In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…