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Alternative Market Briefing

Skėnderbeg’s fund of overlooked long/short equity hedge funds to launch next month

Monday, January 20, 2014

Bruno J. Schneller
Benedicte Gravrand, Opalesque Geneva for New Managers:

Bruno Schneller, a former BrunnerInvest hedge fund manager who co-founded Skėnderbeg Asset Management in Zurich last year, announced today that the investment adviser’s first product, a fund of hedge funds domiciled in Liechtenstein and called the Skėnderbeg Fund, will be launched on February 1st with $10m of seed capital.

The fund will specialize in long/short equity strategies and will be invested in a concentrated portfolio of 10-15 small to mid-sized managers who are typically overlooked by larger shops. The investment philosophy of the fund, says Schneller, is "boring is good."

"Our niche is to find funds that are below the radar," Schneller adds in the annoucement. "Research proves that smaller hedge funds tend to perform better. One reason is that larger hedge funds may be impacted differently with regards to incentivisation and business growth. Our focus on smaller funds is a niche that is not covered to the same extent, because larger FoHF will tent to invest in bigger names. Our strategy also facilitates contact with managers and enables us to get full transparency."

Miranda Ademaj, the other co-founder of Skėnderbeg, notes: "Long/short equity should see most demand among all hedge fund strategies. Many investors believe it is the strategy with the greatest potential to generate double digit returns going forward, especially if long/short equity managers......................

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