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Alternative Market Briefing

Gougenheim’s macro hedge fund ready to launch in September

Monday, July 16, 2012

Benedicte Gravrand, Opalesque Geneva: As Opalesque reported in December 2011, Unigestion’s Head of Hedge Funds Philippe Gougenheim left the Geneva-based company to start his own Swiss single manager fund near Zurich, called Gougenheim Investments. In March, we heard he had to postpone the June launch of his highly liquid global macro hedge fund, the Glasnost Macro Fund, after a skiing accident. He later made three senior hires, including a founding member of Brevan Howard’s Israel-based macro group, Emmanuel Benchimol.

Last week, he announced in a written release that the fund will launch in September, as expected. Hires have been made, service providers have been rigorously checked and selected, and tools have been put in place in his offices in Pfaeffikon. The portfolio started trading on 21st March 2012 and returned 4.1% to end-June. He believes the fund will launch officially with almost $100m in AuM and may attract a further $200m from other investors in the first six months of its life.

The fund is seen as very attractive because of its weekly liquidity terms, Gougenheim noted, its transparency ......................

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