Tue, Jan 16, 2018
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. Legal - Former Och Ziff hedge fund executive indicted for fraud in Africa investment scheme, prosecutor says, Hedge fund blasts defense of Puerto Rico restructuring law[more]

    Former Och Ziff hedge fund executive indicted for fraud in Africa investment scheme, prosecutor says From CNBC.com: A former hedge fund executive faces federal charges for defrauding a UK-based charity over investments in Africa, according to a grand jury indictment made public Wednesday.

  2. U.S. economy, inflation and alternative investments to dominate 2018 markets, says family office Wilmington Trust[more]

    Komfie Manalo, Opalesque Asia: The emergence of a late-cycle economy in the U.S., the mystery of inflation and growth from a domestic and global perspective, and the potential for alternative investments to prosper against a backdrop of rich valuations, low yields, and higher volatility are the t

  3. Performance - Some hedge funds deliver double-digit gains for 2017, Brevan Howard's hedge fund suffers biggest annual loss in 2017, Crispin Odey's flagship hedge fund plummeted about 20% in 2017, Profits fall 90% at ex-Morgan Stanley banker's hedge fund, Fannie-Freddie overhaul might mint hedge fund riches, losses[more]

    Some hedge funds deliver double-digit gains for 2017 From Reuters/Investing.com: A handful of hedge funds ended 2017 with double digit returns, their investors said, at a time the $3 trillion industry took in fresh money and posted its best returns in years, industry data show. Act

  4. Investing - Hedge funds start 2018 with record $19 billion bet on the euro, Hedge fund Kora Management invests in Satin Creditcare[more]

    Hedge funds start 2018 with record $19 billion bet on the euro From Reuters.com: Hedge funds have kicked off 2018 with their biggest bet ever on the euro rising, a clear vote of confidence in the single currency but, with positioning so stretched, one which could backfire in the near ter

  5. News Briefs - Mobius to retire from Franklin Templeton, Authorities decrypt smart phone of Princeton grad charged with killing Manhattan hedge fund dad, Investigators seize (more) antiques from hedge-fund billionaire Michael Steinhardt's collection[more]

    Mobius to retire from Franklin Templeton Emerging markets pioneer Mark Mobius will be stepping down as executive chairman of the Templeton Emerging Markets Group (TEMG) and formally retire from Franklin Templeton on 31 January. He will also be relinquishing his post as portfolio manager