Monday, 3 August 2015
Last updated 2 days ago
May 12 2008 | 12:30pm ET
Magnum Global Investments has made an undisclosed commitment to a pair of long/short hedge funds: Crestridge Capital Offshore Fund and the FiveMore Fund.
The Crestridge Fund invests in exchange-traded funds along with individual stocks, both long and short, and also utilizes covered options as a risk management tool.
The fund’s onshore version returned 37.4% last year mostly from shorting ETFs, and is up 19.4% through April. Its co-portfolio managers are Jason Allen and Joe Tracy.
Magnum has also made an initial investment in FiveMore Fund, a European long/short offering with a long bias and a bottom-up blended value approach. The fund employs a fundamental stock selection process and intra-day and overnight trading executed from its own trading desk. The Zurich, Switzerland-based fund generated a 48.8% return last year while increasing its assets under management from US$3.7 million to US$60 million.
Magum was founded in 1994 by its chairman, Dion Friedland.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…