Walter Launches Sub-Saharan UCIT with Hedge Invest

Mar 25 2015 | 1:52pm ET

Former SAC Capital and Walter Capital Management executive Rich Walter has launched a UCIT-compliant Africa-focused fund in tandem with Italian asset management firm HedgeInvest.

The fund, which was launched in late February, is domiciled in Ireland and will be offered on Hedge Invest’s SICAV, Hedge Invest International Funds. It will be managed by Erik Renander and Matthew Hosack, portfolio managers at Walter’s Scottsdale, Arizona-based Sub-Saraha Capital Group.

The goal of the fund will be to replicate the performance of Sub Sahara’s long/short Africa Opportunities Master Fund, which takes positions in publicly traded companies whose primary business is in Africa and whose shares are listed on official stock exchanges. 

The fund’s objective is a target average annualized return of 15% with 10% volatility through selective purchases of stocks and active risk management. Particular focus will be on undervalued small-cap and mid-cap growth companies, according to Hedge Invest documents. 

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