WEST PALM BEACH, FL (www.hedgeco.net) – Trafalgar Capital Management LLP, a U.K. based asset manager and the U.S. based Fairfield Greenwich have jointly launched a new hedge fund, according to DowJones news release. The new fund called Trafalgar Advanced Fund Limited is domiciled in the Cayman Islands, and is also listed on the Irish Stock Exchange according to the release. The new strategywill target gross exposure of 400 percent trading with volatility in the range of 10 percent.
The fund is a leveraged version of the existing Trafalgar Fund LP, the flagship product of the firm. The Trafalgar Fund L.P was launched in 2001, with its chief objective of achieving absolute returns with little correction with the equity markets. The fund earned average returns of 8.8 percent. According to Trafalgar statements the fund outperformed the European Equity Market Neutral Sector. Currently the Trafalgar Fund L.P. has a year-to-date of 3 percent according to the company.
The new Trafalgar hedge fund has three portfolio managers according to the released statements, Chief Executive Chris Aarons, Richard Szwagrzak and Brian Bielinski. Aarons explained that Trafalgar Capital has seen strong asset inflows in recent months, such inflows have pushed the total assets managed by the firm to over $80 million. Merrill Lynch has been selected as the Prime Broker for the new fund.
Trafalgar�s Partner, Fairfield Greenwich Group is a New York based asset manager, overseeing over $9 billion in total investor assets.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
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