Hexam long/short vehicles to be followed by portfolio from argonaut
Resolution Asset Management will launch a slew of products from its boutique businesses Hexam and Argonaut in coming months.
The first funds to be offered will come from Hexam, a partnership between ex-Barings emerging markets team Marina Akopian, John Payne and Bryan Collings and Resolution.
The first fund, launched last month, is the Hexam Eastern Europe, Middle East and Africa (EMEA) Absolute Return long/short fund. It is run by Akopian. Unlike the Baring's portfolio she managed, the vehicle will not have a long bias, allowing it to go net short as well as long. Akopian said it could also be leveraged by a maximum of 20% with a volatility rate of 15%. She aims to achieve a 19% return.
The second fund, earmarked for launch later this month, is the Global Resources long/short fund. The John Payne-managed fund can be geared 100% with the ability to go net long or net short. Both products have a minimum investment of 250,000 (£169,097) or sterling or dollar equivalent. The vehicles have a 20% performance fee on absolute returns over a high water mark, as well as a 2% annual management charge. The funds are domiciled in Dublin.
Resolution also plans to launch two absolute long-only funds through Hexam in October. These will be a Global Emerging Markets fund, managed by Bryan Collings and an Eastern European portfolio, managed by Stuart Richards.
Through its partnership with boutique Argonaut, Resolution will also launch a long/short portfolio, run by Barry Norris and Oliver Russ at the end of September.
Resolution is to seed each new vehicle with £20m as well as supply the distribution, operational, risk and compliance functions for them.
Resolution launches two long/short vehicles from Hexam
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