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Alternative Market Briefing

Unigestion Head of Hedge Funds leaves to start own Swiss single manager fund

Monday, December 19, 2011

Benedicte Gravrand, Opalesque Geneva:

Philippe Gougenheim, Managing Director and Head of Hedge Funds at Unigestion, an independent asset manager with $11.9bn in AuM, has just left the company to take off on his own.

"After two years at Unigestion and twenty four years in the financial industry, I finally decided to start my own investment management company in order to soon launch a single hedge fund," he announced on LinkedIn.

He told Opalesque that he had a crystal clear idea about what his upcoming hedge fund will be like. In fact, he had been thinking about it for a few years. What we know is that it will be a global macro hedge fund, with high liquidity – although he format has yet to be confirmed.

That strategy has been struggling this year so far, but is still holding it compared to global equities. The Hennessee Global Macro hedge fund index is down -8% YTD. It declined -2.77% in November, driven by losses in global markets, compared to the MSCI EAFE (which measures international equity performance) which was down -4.85% for November (-11.30% YTD).

Gougenheim used to work at Unigestion’s Geneva offices, but his life and his new business will take him to the Zurich area – probably not far from Pfaeffikon.

A few people will join him – no names can be given out yet – and some investors have already shown interest, he said. It will take another few months for the start-up to take shape. So we’ll hear from Mr. Gougenheim again sometime in 20......................

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