Wed, 15/02/2006 - 06:13
London-based alternative asset management firm The Fortune Group has appointed two new staff to focus on growing the business in the UK and USA.
Andrew Groves joins from multi-manager T Bailey Asset Management to focus on the UK market. He brings with him the experience of 20 years in sales and distribution, including as Head of Sales at Rothschild Asset Management where he spent 9 years, latterly heading up sales to UK financial intermediaries.
"With 12 years of multi-manager experience it seemed a natural progression to move into the exciting world of hedge funds. This area offers the fastest market growth as UK investors begin to tap into the attractions of hedge fund investing,' says Groves. 'The Fortune Group is well placed to take advantage of the increased interest in the sector and offers a wide range of proven products.'.
In addition, Esther Healer, who has had prior experience as an equity research analyst and recently completed a three-month assignment for the Fortune Group, will be focusing on fund buyers in the USA. A graduate from Harvard University, she holds an MBA from the London Business School.
Now in its 10th year, the Fortune Group has evolved from a leading hedge fund advisor into a money manager overseeing in excess of USD 1 billion of hedge fund investments for private banks, pension funds and insurance companies. The firm's offering is made up of a full complement of multi-manager vehicles spanning the complete risk/reward spectrum, and includes the Market Wizards Fund, a top performing market neutral fund launched in November 01, Fortune Horizon, (a "balanced" multi-strategy fund of hedge funds), and Fortune Equity Hedge, which comprises a portfolio of predominantly long/short equity managers.
Fortune also offers a range of single manager funds across strategies encompassing relative value, credit and opportunistic. The firm provides feeder funds into the best of the investment managers selected from Fortune's emerging manager program, which today includes ex-Soros staffer Simon Nocera at Lumen, New York-based veteran Michael Katz's Nippon Renewal Fund and Muzinich's Hedgeyield US Credit Fund. Fortune's emerging manager program provides seed investment to new hedge funds managers that are expected to outperform their peers.
Fortune regards its hallmark as transparency. Detailed due diligence on all of the funds in Fortune portfolios is delivered through a customised information management extranet, FortuneNet, which has been constructed to manage customised accounts.
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