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New Managers May 2018

LAUNCHES

 

  • Wells Fargo Asset Management (WFAM) announced the launch of the Global Equity Absolute Return Fund, a sub-fund of the Wells Fargo (Lux) Worldwide Fund, on 26 April 2018. The new fund broadens the current international product suite. The fund is UCITS (Undertakings for Collective Investment in Transferable Securities) compliant and available to both institutional and retail investors.
  • Ocean Dial Asset Management Ltd, an asset management company owned by financial services firm Avendus Capital, has launched an equity public markets focused alternative investment fund (AIF), a senior company executive said. The asset manger is looking to raise up to Rs1,500 crore for the new fund.
  • Hedge fund firm Tangency Capital launched last week with $50 million in assets under management to bet on the reinsurance market ahead of the next hurricane season, one of its three founding members told Reuters on Wednesday. Last year was the worst on record for insurance losses from natural disasters, including hurricanes Harvey, Irma and Maria. But it also led to further capitalraising by funds in expectation of investor demand because of higher rates in the sector, particularly at renewal dates in June and July.
  • A former Credit Suisse foreign exchange trader has quit banking and raised $30m to launch a cryptocurrency hedge fund in Amsterdam. Petro Levchenko, who spent 10 years as an FX trader at the London headquarters of Credit Suisse, BNP Paribas and Royal Bank of Scotland, has become the latest person to swap large City institutions for the burgeoning cryptocurrency markets. Levchenko is a founding partner and chief investment officer at Megalodon Capital Management, a newlylaunched crypto hedge fund with $30m in assets under management, primarily gathered from high net worth individuals.
  • IronChain Capital announced the launch of two innovative mutual fund-like cryptocurrency index funds: IronChain MiX10 and IronChain MiX10 Institutional. Both Funds will......................

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    This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
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