AJO Unveils Emerging Markets Unit, Hedge Fund

Jan 31 2013 | 1:04pm ET

Institutional money manager Aronson Johnson Ortiz has launched its first hedge fund, an quantitative emerging and frontier markets vehicle.

The new AJO Emerging Markets Hedge Fund debuted earlier this month with partner capital. The fund is helmed by new hire Arup Datta, who joined Philadelphia-based AJO in the middle of last year after briefly running his own firm, and who opened AJO's Boston office, focusing on emerging markets.

Datta manages the fund with a team of four, investing across 33 countries, including standard emerging-markets destinations Brazil, China and India, but also taking in the likes of Latvia and Pakistan.

In addition to the hedge fund, Datta's team has also launched two long-only funds, including a small-cap vehicle.

Early investors in the Emerging Markets Hedge Fund will get a fee break: Those who invest before the fund reaches $50 million will pay just 0.75% for management and 7.5% for performance, half the fund's standard 1.5% and 15%. Those who contribute to the fund's second $50 million will pay 1% and 10%.

Prior to launching his Agriya Investors last year, Datta was head portfolio manager at Numeric Investors, a Boston-based quant. shop.

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