JO Hambro Capital Management is to launch a long/ short European financials fund in the New Year wit...
JO Hambro Capital Management is to launch a long/ short European financials fund in the New Year with a global equivalent planned for the future.
While these funds will bolster the boutique's presence in the institutional market, the group is also targeting retail investors, hoping to place its long-only Oeics with UK supermarket Cofunds this autumn.
The European hedge fund will be run by Jonathan Tyce, formerly at London-based Oxburgh Partners, who joins the group in September.
JOHCM chief executive Nichola Pease, said: "Financials make up a third of the European market. There is a lot of movement in the sector and it is not a homogenous market. It also makes sense to have sector- specific funds as the hedge fund market matures."
Tyce, who started his career with PriceWaterhouseCoopers, has experience in the international market, giving JO Hambro the option of launching a global equivalent in the future.
Pease argues there is no conflict in targeting the instittional and retail markets with products. She said: "We want some diversification of the business.
"We don't want to be dependent on one sector or market. What our funds share is they way we pick the managers. We are always looking for the best in the sector."
JO Hambro has taken in £500m of assets in the past seven months, most of it into its UK Oeic range, which now makes up more than 40% of the business.
This includes just under £50m into Scott McGlashan's Japan fund launched in May.
Pease believes the fund will continue to attract assets despite the recent market downturn because McGlashan has a track record in rising and falling markets.
She added: "People want exposure to Japan. It is no longer an area they feel they can do without."
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till