European equities investment specialist SAM Capital Partners has appointed Andrew Kennedy as its chief operating officer. Kennedy is responsible for the day-to-day business management and expansion of the firm’s investor base—specifically in the U.S.—as it looks to capitalise on the strong performance of its European long/short fund, which is up 26% this year.
Andrew KennedyKennedy joins from Dresdner Kleinwort in London, where he was a senior member of the alternative investments group. Prior to that, he was a principal at Onda Capital and a senior member of the equity capital markets group at JPMorgan in London.
SAM Capital Partners was established by former Cheyne Capital senior portfolio manager Dietmar Schmitt in September 2007, when the firm launched its flagship European equities long/short fund.
Since launch, the USD class of the fund has delivered a total return of 22.6%, while the EUR class of the fund has returned 18.7%. This compares favourably with the HFRX Long/Short Equity Index (-18.69%) and the MSCI Europe (-37.10%). Since the start of 2009, the fund has posted a return of just over 26% for its investors and is currently enjoying its twelfth consecutive positive month since November 2008.
The SAM Capital Partners Equity Opportunities Fund uses a short-term equity trading strategy, trading in large-cap European stocks and typically investing in between 20-50 long/short positions at any time across multiple industry sectors and countries. The fund uses equities and equity index futures to generate returns from short-term market trends in a portfolio based on the top 300-400 most liquid European large-cap stocks.
“Up to this point, our main priority has been to build a great investment track record. Now we are in a strong position to grow the business,” said Dietmar Schmitt, founder and chief investment officer. “Having Andrew on board will help us to achieve this and allow the investment team to continue to maintain its focus on delivering the best possible returns for our investors.”