Tue, 12/02/2008 - 06:00
North Asset Management, a London-based alternative investment management firm, has recruited Gerard Gardner as a partner from Goldman Sachs International in London, where he was developing the firm's foreign exchange franchise with hedge funds and leveraged accounts.
Gardner was previously with Morgan Stanley International, which he joined in 1999 as a currency strategist, specialising in multi-asset class and cross-economy analysis for the foreign exchange sales group, first in London and subsequently in New York.
In 1994 Gardner became one of four founding members of Rubicon Capital Management, a New York-based macro hedge fund manager, where he was primarily responsible for global strategy and worked directly for the firm's chief investment officer. He began his career on Wall Street in 1987 as a US agency mortgage-backed securities trader with Drexel Burnham Lambert.
'We have known Gerard for almost 10 years, and have found him to be one of the most original thinkers in the industry, providing outstanding insight and views on the market,' says North Asset Management chief investment officer George Papamarkakis.
'Gerard's role at North will be multifaceted, focusing on strategy as well as liaising with policy-makers. Given a career devoted to the fundamental macro market and his extensive industry contacts, he will add value to North in both the investment management process as well as with external relationships.'
Founded in July 2002, North Asset Management has a strong focus on macro trading and currently manages some USD1bn on behalf of its clients in hedge funds, illiquid product funds and collateralised dent obligations.
The firm's flagship MaxQ Fund is a macro hedge fund with a global mandate that invests in a broad spectrum of assets, including global fixed income, foreign exchange and equity markets in both developed and emerging markets. The fund was up 15.36 per cent net of fees last year and gained some 10 per cent in January.
The fund seeks to generate absolute total returns exceeding 15 per cent per annum by investing in strategies that have a strong fundamental bias and are longer-term in nature, and trading the markets based on shorter-term technical factors. Positions may be concentrated and on average the investment horizon is greater than three months.
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