Sun, May 1, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Emeralt launches long/short equity fund focused on Russia

Tuesday, October 05, 2010
Emeralt launches OPAL – a new long-short equity fund focusing on Russian growth industries Emeralt Investments is pleased to announce the launch of tis new Opal Fund as a new product in its range of Eastern Europe hedge funds.

Opal will take liquid long and short positions in Russian/CIS equities. The Fund’s investment process is built on fundamental bottom-up stock picking in combination with a business oriented macro analysis.

The objective of Opal is to provide its investors with strong positive performance which is uncorrelated to equity markets. Risk-adjusted returns are expected to be superior to that of a traditional equity portfolio.

The new fund will be managed by Johan Ekström, who has been recruited from Alfa Bank, one of Russia’s largest privately owned banking groups. Johan was previously head of fund management at Alfa Capital, the award-winning asset management arm of Alfa Bank, where he oversaw over $300 million in several Russian equity funds. Johan has ten years of fund management experience and worked together with Emeralt founders Daniel Dinef and Mats Wandrell at Swedbank Robur prior to his career at Alfa Bank.

As with all Emeralt funds, Opal’s investment strategy is based upon a defined risk mandate. Based on this target, the manager maximizes the fund’s performance. During his time at Alfa Capital, Johan Ekström managed Russia sector fund focusing on banking/finance and consumer goods. Opal will therefore focus particularly on interesting investment opportunities beyond the oil and gas industry, which today dominates the Russian equity market. Opal will be launched on 1 September 2010 with significant seed capital from a Swedish investment company.

Citibank has been appointed as the prime broker for the new fund and FAST Ltd is the fund administrator.. “During the past decade anyone could make money investing in anything in Russia. That era is now behind us”, says Johan Ekström. “However, Russia remains an under-analyzed and misunderstood market. With a disciplined view and a systematic analysis we believe Opal can generate a superior risk adjusted return vis-à-vis Russia long-only funds and global emerging markets hedge funds.”

“We are very proud to welcome Johan Ekström to our fund management team”, says Carl Meurling, CEO of Emeralt Investments. “We strongly believe in the combination of Johan’s award-winning fund management skills and Emeralt’s tried and tested platform for absolute returns.”

(press release)

Source

kb

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n