Ex-Mormon Church Money Manager Offers Fund

Oct 3 2008 | 2:00am ET

A former portfolio manager for Ensign Peak Advisors, the investment arm of the Church of Jesus Christ of Latter-Day Saints, has recently launched a long/short hedge fund to invest in U.S. stocks.

Jennifer Johnson, founder of Jersey City, N.J.-based Coraticum Asset Management, opened an eponymous hedge fund, which focuses on a diversified portfolio of equities securities.Johnson expects that the fund to hold more than 70 names with diverse market capitalizations, liquidity, styles and industry origins, according to fund documents.

In its first six months of trading, the nascent fund hasn’t fared much better than its peers, losing 4.31% through August. The Hennessee Hedge Fund Index is down 4.09% year-to-date, after dropping another 0.72% last month.

Prior to founding Coraticum, Johnson managed an equity portfolio at Ensign Peak.

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