Sun, Feb 26, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Finisterre Capital launches first emerging market equity fund

Monday, February 06, 2012
Opalesque Industry Update – Finisterre Capital, the long/short emerging market total return specialist, has launched the Finisterre Equity Fund.

Joint Portfolio Managers of the new fund are Alistair Candlish and Edward Cole, who joined Finisterre in August, 2011. The duo was hired as a team from Newsmith, where they were partners in the firm and jointly ran Newsmith’s EM equity fund.

Finisterre’s new fund is a global emerging market equity strategy that seeks to maximise absolute returns within a framework of reduced volatility relative to the market and peers. The fund employs a top-down macro process that seeks to gauge and predict changes in momentum in the global business cycle, and selects stocks accordingly. The fund invests long and short in equity securities, and uses options and swaps to hedge at a portfolio level.

Finisterre has a nine-year track record of successfully trading various emerging market asset classes on a long/short basis. This emerging market expertise has been extended for the first time to a dedicated equity strategy, which will benefit from a shared investment approach as well as an established risk management team.

The Finisterre Equity Fund has been trading since November last year with $25m of seed capital. In addition to this, the portfolio managers are managing a substantial equity allocation within the $800m Finisterre Global Opportunity Fund.

Finisterre Capital is planning to open the Equity Fund to outside investors in the second quarter of this year.

“There has been growing investor demand for a Finisterre equity fund,” noted Paul Crean, co-founder and CIO of Finisterre Capital. “The new fund nicely complements our existing emerging markets offerings, and rounds out our EM product range. In addition, we were very fortunate to attract experienced professionals like Alistair and Edward to manage it.”

Added Edward Cole: “There are big benefits for Alistair and I in being part of a dedicated emerging market specialist like Finisterre. Working alongside other experienced EM specialists investing across EM assets has been highly additive to our process.”

The Finisterre Equity Fund has a target return of 15-20% net annualized over the business cycle, with a target volatility of 10-13%. Minimum investment is $1 million.

(press release)

Finisterre Capital LLP, founded in 2002, is an emerging markets specialist dedicated to delivering risk-controlled, total return investment strategies to the institutional marketplace. It has offices in London and in Connecticut. The firm manages emerging markets funds in a variety of asset classes, including sovereign debt, local currency debt, foreign exchange, corporate credit, special situations and equity.

Finisterre’s funds are all actively managed and include the Sovereign Debt Fund, which uses a top-down macro approach to emerging market sovereign debt; the Global Opportunity Fund, which has a portfolio of sovereign and corporate debt, foreign exchange, interest rates and equity; and the Finisterre Credit Fund, which concentrates on bottom-up corporate credit. In January, 2010, Finisterre launched the Emerging Markets Fund (FEMF), enabling investors to gain exposure to all Finisterre strategies. www.finisterrecapital.com

BG

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. Institutional investors plan to raise allocations to alternative assets in 2017[more]

    Komfie Manalo, Opalesque Asia: A survey by Context Summits Miami showed that nearly 72% of institutional investors and family offices plan to raise their allocations to alternative asset managers this year, suggesting continued strong demand for the industry. "As many large, brand name f

  2. Comment - Mortgages, mergers and hedge fund fees, Fairholme's Berkowitz responds to court ruling against hedge fund suits of Fannie Mae[more]

    Mortgages, mergers and hedge fund fees From Bloomberg.com: Yesterday the U.S. Court of Appeals for the D.C. Circuit handed down an odd decision in a lawsuit over the government's nationalization of Fannie Mae and Freddie Mac. The key issue is what's called the "Third Amendment," the 2012

  3. Investing - Hedge funds continue to chase the herd in record Momentum wager, Marshall Wace bets grocer Sainsbury may need rights offering, Hedge fund net exposure has started to retreat, David Tepper's Appaloosa fund makes a huge buy, The 10,000-mile journey to Short Australia, Skeptical hedge fund investors grill Evan Spiegel about Snap's I.P.O.[more]

    Hedge funds continue to chase the herd in record Momentum wager From Bloomberg.com: Hedge funds can't get enough of momentum - even if it means embracing an investing strategy they hate. Loosely defined as betting on shares that went up the fastest over the preceding nine-to-12 months, h

  4. Opalesque Exclusive: Swiss investors take fund seeding and acceleration into their own hands[more]

    Benedicte Gravrand, Opalesque Geneva: Banque Bonhote, a 200-year old Swiss private bank, last year launched a community of investors - heads of Swiss family and advisory offices and wealth managers - with the aim of co-investing in the kind of managers they wanted to invest in, either by way of s

  5. K2 Advisors : Why We Like Activist Hedge Fund Strategies and Some Thoughts on Alpha[more]

    Matthias Knab, Opalesque: Rob Christian, Senior Managing Director, Head of Research K2 Advisors, Franklin Templeton Solutions, writes on Harvest Exchange: When d