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Alternative Market Briefing

European stock-picking fund up 19% YTD, bets on small caps’ high cash level

Tuesday, April 08, 2014

amb
Jonathan Herbert
Benedicte Gravrand, Opalesque Geneva for New Managers:

Here is a European long/short equity fund that has been beating the odds since its 2008 inception by employing its own investment model, frequent company visits and a concentrated portfolio.

Cologny Advisors LLP’s Camox Fund was launched in February 2008, returned 4.7% that year, and has annualized 21% since inception with a volatility of almost 14%. It was up 3.7% in March, 18.7% YTD and it manages $90m.

The HFRX Equity Hedge Index was down -0.37% in March, 1.24% YTD. And the HFRX Western/Pan Europe Index is up 2.68% YTD (to Feb.)

An equity long/short hedge fund that uses fundamental research and a stock-picking strategy, the Camox Fund maintains a concentrated portfolio of stocks mainly across the European region.

Cash levels that are way too high Cologny’s Camox Fund is diversified across most sectors. Some of the current longs are in Swiss Financial and Technology, Swiss and French Consumer, Cyclical; and some of the shorts are in French and Dutch Consumer, Non-cyclical.

Jonathan Herbert, who launched the fund from Cologny’s London offices and who is its Managing Partner, told Opalesque the fund is focused on mid and small caps, wit......................

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