Former SociÃ©tÃ© GÃ©nÃ©rale trader Stephane Feyens has launched an equity long/short hedge fund, dom...
Former SociÃ©tÃ© GÃ©nÃ©rale trader Stephane Feyens has launched an equity long/short hedge fund, domiciled in the Cayman Islands and listed in Dublin.
The Entropy Fund invests mainly in European and US stocks and has a target return of 10%-15%pa. It began trading with some E5m on 13 January.
Feyens, managing director of Enthalpy Investment Management, said: 'The strategy is divided into three components: the standard long and short-term market positions normally associated with such a fund and also a number of arbitrage trades, including volatility arbitrage.'
The initial public offering on the vehicle was completed on 10 January and it is open to new investment for minimum investments of E250,000. Fees are 2%pa with a fee for outperformance.
Feyens spent several years actively trading within SocGen's internal hedge fund in New York and at the firm's derivatives desk in Paris.
He said: 'Times are tough for new funds launching at the moment, but having a knowledge of derivatives will help to manage the portfolio. In a volatile market, if you go wrong with your timing it can be very hard.'
‘Most significant’ upgrade since launch
Changes happening over coming months
Had accepted British Steel business
Aimed at HNW clients and family groups
Set for 1 April 2019