Sunday, 19 April 2015
Last updated 13 hours ago
Jan 12 2009 | 1:45am ET
GAM, the hedge fund arm of Julius Baer, is launching its Delphic fund next month with a “substantial amount” of seed capital. The equity long/short vehicle will be managed by Mark Hawtin, who joined the firm in October from Marshall Wace Asset Management.
GAM’s new offering was initially dubbed the GAM Eclectic, but the firm said it decided to change the name to avoid any confusion with other hedge fund providers in the market. The market capitalization-agnostic fund will invest in themes and companies with an identified sizeable difference between market value and intrinsic value, according to the firm.
“The fund will also focus on stocks and themes that are well positioned to benefit from major change and/or innovation as the dispersion of returns between winners and losers is often the greatest,” it said.
GAM is hoping that its latest long/short initiative doesn’t suffer the same fate as some of its other existing long/short offerings: The firm’s GAM Asia Equity Hedge and European Equity Hedge funds dropped 35.84% and 15.68, respectively, last year through December.
GAM Delphic’s minimum investment requirement is US$1 million.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…