Wed, Aug 24, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Ex-Artradis founder launches new Asian hedge fund group

Thursday, March 31, 2011

amb
Stephen Diggle
Stephen Diggle, ex-managing partner and co-founder of Artradis, once one of Asia's biggest hedge fund groups with $4bn under management, is to launch a new firm, Vulpes Investment Management.

In an exclusive interview with Opalesque, Diggle outlined the new firm which will launch with two funds from Artradis, Artradis Russian Opportunities and Artradis Testudo, and a new fund, planned for 1st May. The new fund, The Lava Fund, will be similar to Artradis's Barracuda Fund, trading long volatility. Investors were redeemed out of Barracuda, as reported in Opalesque on March 22nd (Source) when the fund hit difficulties in 2009 and 2010 with losses of $ 700m. However, Diggle says this fund will be different. "Overall the fund worked for what investors asked us to do. Where we ran into problems was an unconstrained level of premium burn. This fund will have the same strategy but an extra tweak to enforce good risk discipline."

The enforcer of choice is new hire Bert Verdicchio, chief risk officer. "This is a new position for us and we will have a hard limit of how much theta we can burn per year" says Diggle. Fees on the new fund will be 1.5% and 20% with monthly liquidity with 90 days notice. Original Artradis investors are offered a welcome back with the high water mark from Artradis.

Vulpes will open its doors with $16......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Algorithms platform aims to target typical challenges found in quantitative hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva: Last month, Quantopian received investments from Point72 Ventures, the new venture capital arm of Steven Cohen’s Point72 Asset Management.

  2. LatAm hedge funds surge in 1H to +24.4%, emerging markets assets rise[more]

    Komfie Manalo, Opalesque Asia: Hedge funds investing in Latin America posted strong gains through mid-2016, reversing declines in four of the past five years, including the last three years, to lead all areas of hedge fund performance through the first half of 2016, according to the latest HFR Em

  3. Asia - LGT Capital Partners: Alternatives set for continued rise in Asia[more]

    From Asianinvestor.net: More flows are likely into insurance-linked strategies, private equity and trend-following strategies/CTAs, given the benefits of such investments, argues LGT Capital Partners. Despite the numerous quantitative easing programs and bailouts of recent years, the quest for

  4. Opalesque Roundtable: Low and high fee investments often better than mid fee hedge funds[more]

    Komfie Manalo, Opalesque Asia: Hedge funds that charge the low and high fees stuff often provide better returns than "those sort of mid-fee investments", said Keith Haydon, chief investment officer of Man FRM. (Alternative) investment managers who charge high fees would often provide the most int

  5. Hedge fund investors pull $5.7 billion in July[more]

    From Bloomberg.com: Hedge funds suffered a third consecutive month of outflows in July as investors withdrew $5.7 billion, according to industry tracker Eurekahedge. Redemptions totaled $20.7 billion in the three months through July, with money managers betting on equities suffering $18.4 bill