Friday, 29 April 2016
Last updated 11 hours ago
Apr 11 2013 | 12:58pm ET
A former T. Rowe Price healthcare mutual fund manager has lined up more than $100 million for his new hedge fund.
Kris Jenner's Rock Springs Capital will offer its maiden healthcare and biotechnology fund later this year, Bloomberg News reports. The new fund will employ much the same strategy Jenner used at T. Rowe's $5.8 billion Health Sciences Fund, although it, unlike the mutual fund, will have the ability to short stocks.
Jenner worked at T. Rowe from 1997 until February. His fund, which he began to manage in 2000, was T. Rowe's best-performing fund over the five years prior to his departure, with an annualized return of 13%.
Jenner, who has a medical degree from Johns Hopkins University and a Ph.d. in molecular biology from the University of Oxford, is joined at Rock Springs by Mark Bussard and Graham McPhail, both analysts who left T. Rowe with him in February.