The Asset Manager Is to Focus on Central and Eastern Europe and Russia

Financial News, November 10, 2002 | Go to article overview
Save to active project

The Asset Manager Is to Focus on Central and Eastern Europe and Russia


Byline: Anuj Gangahar

Convergence Capital, a new asset management firm focused on Central and Eastern Europe and Russia (CEER), is set to launch its first hedge fund in the next two weeks. The convergence strategic absolute return (Constar) fund will be run in partnership with Williams de Broe, one of the City of London's oldest stockbrokers.Although there are up to 90 funds specialising in Central and Eastern Europe, few long/short equity funds specialise in investment opportunities in the region. Among the most successful has been Thames River Capital's fund run by Rory Landman and Martin Taylor, former star Barings traders. This fund, however, is a more general player than the Constar fund.

Constar's hedge fund will invest predominantly in the 10 EU accession states, whose applications for membership were approved by the ratification of the Nice Treaty by Ireland on October 19.

Through trading on the CEER markets, Constar will aim to achieve absolute returns while maintaining a strong risk-management discipline. The fund will target both retail and institutional investors and will cap at $100m (E100m).

James Oates, who will co-manage the fund with Nicholas Vardy, says: "Capping at $100m is sensible for a fund investing in equities in this region. Getting too big can be more hassle than it is worth. We are focused on managing our risks and the volatility of the fund using a very technical approach.

"The Central and Eastern European markets may be coming back to life. You just have to look at mergers and acquisition activity. It may be pretty dead in most areas, but it is certainly not in Central and Eastern Europe.

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
Loading One moment ...
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited article

The Asset Manager Is to Focus on Central and Eastern Europe and Russia
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

While we understand printed pages are helpful to our users, this limitation is necessary to help protect our publishers' copyrighted material and prevent its unlawful distribution. We are sorry for any inconvenience.
Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.

Are you sure you want to delete this highlight?