Wednesday, 23 July 2014
Last updated 7 hours ago
Jul 16 2007 | 6:11am ET
Groton, Conn.-based Do Asset Management has begun marketing its $10 million equity long/short fund to outside investors, with the goal of reaching $250 million by year-end.
The fund, which launched in October 2004, is derived from the firm’s foundation as a provider of valuation and risk management to the pharmaceutical, biotech, and energy sectors. “The fund was started to apply our know-how of private asset valuation in the public markets,” said co-founder Gill Eapen. “We have a long/short strategy that tends to be market neutral and we don’t take any sector or size exposure. We don’t generally buy beta risk [instead] going after alpha.”
Eapen added that the fund can be customized for either institutional investors looking for low beta returns or high-net worth investors seeking absolute returns. The fund is being shopped by third-party marketer Alpha Introductions.
The long/short offering, DoAM’s flagship, returned 22% on an annualized basis and 9.4% YTD. Its 1:1 levered version has fared even better, with a 25.4% annualized return and 14.6% YTD. The fund charges 2% for management and 20% for performance, with a $500,000 for investments in the fund and $3 million to $5 million for separately-managed accounts.
Eapen is a former group director of Pfizer, responsible for the company’s portfolio management. Former Pfizer executives Pierre Etienne, Dilip Mehta, Craig Saxton and Ian Williams round out DoAM’s management team.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…