FiveT Upbeat On FiveMore Fund

Feb 15 2008 | 3:01am ET

Zurich, Switzerland-based FiveT Capital has a few reasons to be optimistic this year, but it’s going to miss last year. The firm’s long/short FiveMore Fund generated a 48.8% return in its first 12 months of trading, while increasing its assets under management from US$3.7 million to US$60 million.

The firm attributes the fund’s strong first-year performance to a combination of trading and stock selection to exploit inefficiencies in the German market. The fund employs as fundamental stock selection process and intra-day and overnight trading executed from FiveT’s own trading desk and provides a steady flow of profits, according to the firm.

FiveT last month added to its trading desk with the addition of Jens Furkert, who served as head of trading desk equities German small- and mid-caps at Euwax AG.

FiveT`s current investor pool is comprised of 14 funds of hedge funds, three family offices and high net-worth individuals. In September, FiveT also introduced a U.S. feeder fund, FiveMore Fund (US), to give American investors access to the master vehicle. The firm also launched a currency-hedged U.S. dollar class for the master fund in December.

The firm said it is confident that assets in the fund will increase to US$100 million by May and its US$250 million target will be reached by year-end.

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