Saturday, 30 August 2014
Last updated 1 day ago
Aug 9 2007 | 1:49pm ET
Copenhagen, Denmark-based Uttrup Financial Advisors recently launched the Cresco Fund, a long/short European equity offering with a Nordic bias. The Guernsey-domiciled fund, which launched in mid-May with $45 million, has returned gains of 3.3% and 0.2%, and a decline of 0.7% in its first three months of trading.
“As the nordic region itself is fairly cyclical, we have a tilt toward cyclical stocks in a broad variety of industries such as shipping, industrial, mining, oil services and so forth,” said Jesper Uttrup, a partner and former portfolio manager of Copenhagen long/short equity shop Danske Capital.
The fund is currently invested in about 25 stocks with long holdings in dry bulk, solar energy and local property developers.
Uttrup said he believes that the Nodic equity market has more upside than the rest of Europe because “balance sheets of companies are less stretched and we’re moving into a period right now where companies are starting to increase leverage on their balance sheets.”
The fund, which is targeting 25% net returns per annum, charges fees of 2% for management and 20% for performance, with a minimum investment requirement of US$500,000.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...