Neil Smeaton, who manages the newly launched Collins Stewart US Equity Focus fund, has closed the he...
Neil Smeaton, who manages the newly launched Collins Stewart US Equity Focus fund, has closed the hedge fund he had established under his own company Ailsa Capital Management.
The Ailsa long/short hedge fund was launched in October 2000 and raised £25m. The fund was liquidated last month and all money has been returned to investors.
Smeaton's new employer, Collins Stewart, plans to launch a similar US-based hedge fund in six-12 months time, which Smeaton will manage. Originally, Smeaton was contracting his services to Collins Stewart but has since become fully employed.
'We are looking to bed down the long-only portfolio before we launch the hedge fund,' Smeaton said.
The launch of the Collins Stewart fund, a Dublin-based Oeic, on 28 May marked Smeaton's return to running long-only money.
The fund holds between 30 and 40 mainly large-cap stocks and is benchmarked against the S&P 500.
Smeaton, who spent four years at Aegon before leaving to establish Ailsa Capital Management, built up an impressive performance track record and was rated S&P frAAA when he left the group.
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