Sat, Dec 10, 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. Institutions - Texas County & District culls 5 hedge funds, reallocates to existing managers, Kentucky board gives final approval to halve hedge fund portfolio, $38bn Finnish fund moves assets to U.S. as Europe flounders, South Korea’s National Pension Fund holds 5% stake in 62 listed companies[more]

    Texas County & District culls 5 hedge funds, reallocates to existing managers Texas County & District Retirement System, Austin, continues to reduce the number of hedge funds, but not the size of its $6.2 billion hedge fund portfolio. It will redeem a total of $760 million from five hedg

  2. Opalesque Roundtable: Australian family offices search for good risk adjusted returns, happy to pay for skill[more]

    Komfie Manalo, Opalesque Asia: Australian family offices want foremost good risk adjusted returns, and they are happy to pay for the skill, and in some cases, the limited capacity of an active manager. Jonas Daly, Head of Distribution at B

  3. StepStone announces close of Swiss Capital acquisition[more]

    StepStone Group LP announced it has successfully closed the acquisition of Swiss Capital Alternative Investments AG, one of the leading private debt and hedge fund solutions providers in Europe. The transaction was originally announced in May 2016, and has been in the process of receiving regulatory

  4. Investing - Stephen Cohen investing $275m in free clinics treating veterans' mental health issues, California Resources loses favor with hedge funds[more]

    Stephen Cohen investing $275m in free clinics treating veterans' mental health issues From Healthcarefinancenews.com: …Now, a new chain of free mental health clinics for vets has opened in five cities across the United States to fill the gap. The much-needed new treatment is underwritten

  5. Hedge funds flat in last week of November 'in sympathy with markets’[more]

    Komfie Manalo, Opalesque Asia: Hedge funds were close to flat in the last week of November in sympathy with markets, which took a pause ahead of the OPEC meeting and Italian referendum. The Lyxor Hedge Fund Index was -0.1% as of end November 29 (-1.7% YTD), according to the latest