N.Y. Firm Launches Emerging Markets Hedge Fund

Sep 30 2008 | 8:44am ET

New York-based Oranda Capital Management has launched an emerging markets hedge fund to invest in mid- to large-cap equities in Asia, Eastern Europe, Africa and Latin America.

The value-biased fund is industry agnostic and will avoid sectors such as tech and biotech, according to chief operating officer Erik Volfing. He said the fund’s portfolio currently has exposure to the airlines, banking, tobacco, building materials, oil and gas, food, machine hand tools and pharmaceutical sectors.

Volfing said the firm is making a bull run on the bearish market.

“We’ve been treating this as a buying opportunity, so we’ve been adding to existing positions this month and we’ve been adding new positions also,” he said. “It’s a very exciting time to be getting into the space. We’ve outperformed the index and think there’s a nice rally ahead of us.” 

The fund launched in July and finished its first two months of trading up 1.29%. It charges a  1.5 % management fee and a 20% incentive fee.

Oranda was founded by Richard Schmidt, who previously ran Asia-focused, Latin American and global emerging markets funds for JPMorgan Chase. Volfing, who previously served as CFO at Grand Slam Asset Management, a long/short US-equity hedge fund shop, joined the firm in May.

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