Gary K. Ostoich Benedicte Gravrand, Opalesque Geneva for New Managers:
Toronto, Canada-based alternative investment manager Spartan Fund Management Inc. reported yesterday that Humber Global had launched a higher-net version of their long-short global equity fund, the Humber Global Opportunity Fund. The new fund will typically have net market exposure of approximately 50% (+/- 25%).
Humber Global Preservation Fund, with the original net market exposure of 15% (+/- 10%), will
continue to be offered via managed accounts, the announcement says.
The Humber Global Opportunity Fund is managed by John Durfy, who previously was a Managing Director at a public pension plan, and Rob Durfy, previously senior equity analyst and associate portfolio manager.
John Durfy said he "soft launched" a fund with a net exposure of around 50% and a slightly lower gross exposure than the original fund in response to many retail investors’ demand for higher returns.
From mid-April to end-July, the new fund returned 4.66% (est.) when the MSCI returned 3.11%.
The two version’s underlying strategy is benefit from hedged equity exposure to a concentrated group of mid- and large-capitalization global developed-market companies.
The Humber Global Fund is on Spartan's platform. Gary K. Ostoich, President of Spartan Fund Management ......................
To view our full article Click here