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Alternative Market Briefing

New Swiss hedge fund endorses the wisdom of following 'the vital few' – but not blindly

Monday, September 12, 2011

amb
Athanasios Ladopoulos
Benedicte Gravrand, Opalesque Geneva:

We heard last week that a fund boutique in Zurich called Swiss Investment Managers (SIM) would be launching the "Directors' Dealings Fund" (DDF) this month. DDF is meant to be the first hedge fund investing solely in the reported share dealings of company directors and senior corporate executives in their own firms.

This might be a good period for such a fund to start, as apparently, more executives at European companies are buying their stock than at any time since October 2008. "Directors have a good ability in timing the market," Chris Montagu, a London-based quantitative strategist at Citigroup, reported earlier this month according to Bloomberg. "One can conclude that, at this juncture, directors see current valuations as an attractive entry point." And insiders of financial companies bought more stock in August than in any month in the last three years, said Hedgeye on CNN, just as bank stocks are heading down following news that the U.S. may sue the major banks for their mortgage-backed securities selling before the ......................

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