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From Kirsten Bischoff, Opalesque New York:

For Francois Serge Lhabitant, Chief Investment Officer at $10bn London- and Jersey-based firm Kedge Capital, an academic approach to investing in hedge fund managers has driven much of the firm’s success. Lhabitant, who spoke with Matthias Knab in a recent Opalesque TV Campus interview is also a Professor of Finance at EDHEC Business School, and says that understanding each strategy in a portfolio completely allows a manager to oversee and manage the downside risks, while leaving the upside capture to well-chosen, underlying managers.

“There are a lot of strategies that I never understood, never invested in them and they turn out in at least one case to be a complete fraud,” Lhabitant says. “A lot of people invest in hedge funds to make a lot of money. That is not my approach. My approach is to invest in hedge funds and find the old hedge world that a lot of funds have forgotten.”

Kedge Capital manages between $5bn and $6bn in hedge fund assets. Created in 2001 by the Swiss-based Bertarelli family, the firm also invests in private equity, real estate, biotech, as well as other business areas. Lhabitant manages the firm’s hedge fund investments, and in addition to his Professorship, is also a Member of the Scientific Committee of the Autorité des Marchés Financiers, the French ......................

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