Mark Corcoran, CFA, will draw upon his ten years in the industry to manage the Brookridge Small Cap Opportunities Fund that launched this past September, 2003. Mr. Corcoran formerly served asFundamental Research Group Leader, Supervisory Analyst and Senior Technology Analyst for D.A. Davidson & Co, where the total worth of the equity recommendations that he managed was approximately$2.5 billion. His previous roles also include serving as Co-Manager and Analyst for small-cap growth portfolios at Chinook Capital Management LLC, and as a Small- and Micro-cap analyst for Red ChipReview.
Brookridge Small Cap Opportunities Fund is a long/short vehicle that focuses primarily on small-cap U.S. equities. The fund�s bottoms-up investment philosophy utilizes traditional fundamental factors to screen for ideas. A proprietary ranking system is employed to identify long and short candidates. The fund will be approximately 70% long and 30% short, with a concentrated portfolio of roughly 30-35 positions at any given time. Targeting annual returns at 15%, the fund will attempt to prevent monthly and maximum drawdowns greater than -5% and -10% respectively. The fund will also seek to limit correlation to small-cap indices.
Mr. Corcoran estimates that the capacity of the fund is $250 million. The minimum investment is $100,000. There is a six-month lock-up period, and monthly redemptions thereafter. The fund charges a 1% management fee and 20% incentive fee. The infrastructure of the fund includes Bear Stearns as the prime broker and Eisner LLP as the auditor.
If you would like more information on Mark, or the Brookridge Small Cap Opportunities Fund, please visit his fund profile on our site, www.hedgeco.net.