Henderson Global Investors is set to launch its latest hedge fund, a Europe including UK long/short ...
Henderson Global Investors is set to launch its latest hedge fund, a Europe including UK long/short equity strategy vehicle to be managed by Stephen Peak.
The European Absolute Return fund will be based on a dummy portfolio Peak has been running for a number of months.
The strategy will be driven by a search for misvaluations, with an emphasis on stock-picking.
This will be supported by a pragmatic investment process, involving a systematic, multi-level evaluation of the macro environment, markets and individual companies, with a judgmental overlay.
Stuart Macdonald, head of alternative investments at Henderson, said: 'We believe this should be a very good environment for long/short strategy, with nearly 5,000 listed companies, sometimes inefficient research, particularly outside of large caps, and profound secular changes in areas such as industrial restructuring, corporate governance, demographics and the savings market. This fund will be an opportunity for Stephen to use his 'best ideas' and well-documented stockpicking abilities.'
The fund will have a target return of 20% ' 25% pa aiming to achieve volatility lower than the market. The fund is the fourth in the series, which comprises an Asia Pacific long/short, a technology long/short, and Japan long/short.
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