Tuesday, 30 August 2016
Last updated 8 hours ago
May 14 2008 | 9:09am ET
A team of veterans of trouble hedge fund Shooter Fund Management are striking out on their own.
The foursome has founded Dacharan Capital, which hopes to raise up to US$200 million for a currency hedge fund, Bloomberg News reports. The firm is led by former Shooter marketing chief David Beddington and ex-traders Antti Aitio, Ari Andricopoulos and Charles Phan.
London-based Shooter’s multi-strategy fund plummeted 40% last year, due mostly to losses on equity-index trades. But its quantitative foreign-exchange portfolio returned 34% last year, and is up 10% this year, Dacharan marketing documents show.