Newly-elected Florida Congressman Alan Grayson may be on his way back to Washington, but he isn't abandoning his year-old hedge fund.
“Congressman Grayson will continue his involvement in the fund in a manner consistent with his responsibilities as a Member of Congress, and his responsibilities to his constituents,” Todd Jurkowski, vice president of investor relations for The Grayson Fund Management Company, told FINalternatives.
According to Jurowski, the fund will “continue to employ the same investment strategies” and “hopes to build on its success in the last quarter, when it enjoyed a 23% return on equity.”
The Orlando-based fund employs a global, deep-value strategy, taking mostly long positions, primarily in emerging markets.
Democrat Grayson's double-digit victory over Republican Todd Long last Tuesday sends him back to the U.S. House representing Florida's newly created 9th congressional district. He had previously served one term (representing the 8th district) before losing in 2010 to Dan Webster. Webster also returns to Congress, representing what is now Florida's 10th district.
During his first stint in Washington, Grayson—a Bronx, N.Y., native with degrees from Harvard Law School and Harvard School of Government—served on the Financial Services Committee, as well as the Subcommittees on Capital Markets and on Oversight and Investigations.
He returns to D.C. with an ambitious agenda—Grayson told the Huffington Post he thought President Obama had been “too modest” in his goals for a second term, saying his own wish list for the next four years included full employment, progressive taxation, universal (and not just affordable) health care and peace.