Saturday, 30 August 2014
Last updated 1 day ago
Feb 14 2008 | 4:00am ET
San Diego-based Torrey Pines Capital Management, the $510 million global long/short equity manager, last month opened up its new Torrey Pines Asia Fund to investors after three months of trading with internal capital.
The $10 million Asia-only long/short fund returned 4.71% net for the fourth quarter and was up an estimated 1.3% net last month.
Like Torrey Pine’s flagship Global Equity Fund, the pan-Asia offering employs fundamental, bottom-up analysis with a top-down overlay. The fund takes an opportunistic approach to investing in mid- to large-cap names and is managed by Cosmo D’Agostino, partner and long-time Asia portfolio manager on the Global Fund.
“We like transparency and liquidity and we don’t have any geographic focus, so our version of Asia includes Japan, Australia and New Zealand,” said Janice Kary, director.
Kay said the fund, which is currently less than 10% net long, is banking on the current volatility within the region for short opportunities.
“Beginning in the third quarter of last year, through the present is a good time to put on shorts in the region,” she said. “It was very hard to make money on the short side in Asia in 2007 and 2006 but now, we think there are opportunities on both sides.”
The Asia Fund charges a 1.5% management fee and a 20% incentive fee with a $1 million minimum investment requirement, and has a soft one-year lockup.
Kay also mentioned that a European long/short fund may be in the offing by the end of the year but declined to offer further specifications.
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 ...