Komfie Manalo, Opalesque Asia: Hedge fund manager and banking analyst Meredith Whitney is back managing money.
She is now managing an $800 million equity portfolio at Arch Capital Group Ltd, a Bermuda-based insurer confirmed Preston Hutchings, the company’s CIO.
Hutchings told Bloomberg, "Her task is to essentially manage the managers. It’s not S&P focused, it’s a little more varied than that."
Whitney will be in charge of a portfolio with money allocated to nearly eight managers, including JPMorgan Chase & Co. and BlackRock Inc. Arch has investments in U.S. and Asian stocks, he said.
In June this year, Whitney said she was through with managing other people’s money and closed her hedge fund firm Kenbelle Capital.
Her American Revival Fund started investing in heartland stocks in November 2013, after she predicted on TV and in a book that the center of the U.S. would boom. Even as parts of the region did well, she made wrong-way bets on companies including a retailer that sells mattresses and stereos on credit in Texas.
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