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From Benedicte Gravrand, Geneva:
Greylock Capital Management is one of the leaders within the emerging market hedge fund sector. The firm has managed the Greylock Global Opportunity Fund since January 1997. It will launch a leverage version of the fund by the end of the year. Ravin Gupta, director of the Singapore research office and Francis Rodilosso, MD and PM at the New York head-office talked to Opalesque about their investment approach.
Greylock’s 10-member team covers all regions of the globe with on-the-ground work experience and language skills and apply a flexible strategy, shifting among three investment themes, namely high yield, distressed debt and special situations. The strategy is overlaid with a hedge component that dampens volatility and reduces the overall risk to the portfolio. The fund returned 5.17% YTD (to June 07), and annualized 18.56% since inception.
New fund
“The Greylock Global Opportunity Fund 2x is not a new strategy,” said Mr. Gupta (rgupta@greylockcapital.com). “We have not been offering leveraged funds so far but some of our investors thought it was good idea, given the low volatility. We will offer a feeder, which we are launching at the end of year 2007. Volatility in our unleveraged fund has been 4 to 5% p.a. so we are targeting 7 to 8% maximum in the 2x fund. The target return is 25-30%.”
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