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Alternative Market Briefing

Boutique manager Kernow to launch UK equity long/short hedge fund

Monday, January 17, 2022

Alyx Wood
B. G., Opalesque Geneva for New Managers:

A boutique asset manager with a deep focus on UK equities is launching an equity long/short hedge fund in Q2 2022.

Kernow Asset Management is based in London and Cornwall and was founded in 2019 by Alyx Wood, who was previously fund manager at Downing LLP, vice president at Deutsche Bank, and management consultant at KPMG.

As an expert in All Cap UK equities, the manager is known for operating in the widening market gap between short-term quant-orientated traders and closet indexers.

Kernow has been running a contrarian UK equity long/short strategy in managed accounts since November 2019. The strategy has cumulated a return of 38% until November 2021, compared to the Barclay Equity Long/Short Index's return of 23.5% and the FTSE All Share's return of 4.3%.

"UK equities are trading at a 30-40% discount to global developed peers," says the manager. "This presents an immediate and unique opportunity. Furthermore, high levels of IPOs, secondaries, M&A and other corporate finance activity has also created significant mispricings."

New fund

Following investor demand for a fully UK onshore regulated option as opposed to the private managed accounts it is running, Kernow is launching the CG Kernow Equity Navigator Fund in Q2 2022. Alongside this onshore UK OE......................

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