Saturday, 23 May 2015
Last updated 18 hours ago
Aug 6 2012 | 12:30pm ET
Armajaro Asset Management is known as a commodities hedge fund shop, but the firm has plans to change that.
London-based Armajaro will launch its first equities-only hedge fund on Oct. 1, focusing on financials. The new fund will debut with as much as US$100 million and will be led by Ben Steele and Peter Walters.
Steele and Walters joined Armajaro from TT International, where they also ran a financials strategy.
Armajaro was to increase its range to between 10 and 15 funds—it currently manages its flagship commodity fund and an emerging markets fund—and to boost its assets from US$1.5 billion to about US$10 billion, CEO Harry Morley told Reuters.
The Global Financials Fund has a capacity of more than US$1 billion. It will seek to profit from "long-term structural dynamics" in the financials space, Steele said.
"We're not launching a product because it's a hot space," Morley told the Financial Times, although it is a hot space. "We're launching it because we believe there is a long-term opportunity for returns."
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…