Forex Hedge Fund Founders ‘Shoot’ For Better Times On Their Own

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.


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