London-based asset management business Titanium Capital Partners LLP has been appointed as the asset manager for the Vizor Macro Fund.
David Morrison, formerly director and portfolio manager of Vizor's Global Macro Fund has been appointed as a Partner at Titanium, a specialist in absolute return and hedge fund strategies.
Prior to joining Vizor, Morrison was chairman of Tiger Management (Europe) Ltd, and a General Partner of Goldman Sachs in London. In his new role at Vizor he will be supported by a strong trading capacity while Dr Roger Courtenay, formerly a senior economist at the Bank of England who has over seven years experience as a central bank and hedge fund economist, is set to join him from Vizor.
Given the increasing opportunities arising in global markets, and the rising need from asset allocators for higher levels of returns from hedge fund managers than have been produced in 2004/2005, it is expected that Titanium Capital's Global Macro Fund, with its higher levels of volatility and returns, will raise significant assets in 2006, as performance picks up.
Morrison's appointment, and the recent huge success of Titanium Capital's Global Event Driven Fund, on top of existing and successful emerging market products at the firm, reflect the continued expansion of Titanium Capital. The appointment of Titanium Capital, which is owned entirely by its partners, and advises on close to USD 500 million of assets, as investment advisor to Vizor, is consistent with the company's ambition to expand as a medium sized diversified asset management business over the next few years.
Philip Manduca, managing director, said: "Titanium Capital has a policy of expanding its business through top-level recruitment and acquisitions. The appointment of David Morrison represents a marvellous opportunity for Titanium Capital to be able to offer to clients a top performing fund manager in the Global Macro area where risk/return criteria are very attractive. The appointment further signals Titanium Capital's growing status in the increasingly important area of hedge fund management".
Din Bhumgara, chief operating officer, said: "We built a first class operational infrastructure at the outset to be able to expand our product range whenever top level talent became available. The successful launch in 2004 of the Global Event Driven product is testament to that ability. We expect further product growth in 2006. Increasingly, the hedge fund industry will seek to consolidate as compliance and regulatory concerns swamp smaller firms."
And according to Morrison, Titanium is well positioned to take full advantage of this in the forthcoming months. "Titanium Capital is an extremely intelligent, top quality asset management firm, managed by business professionals to the highest standards. The operational infrastructure and collegiate culture amongst all the partners will allow me to focus solely on money management,' he says. "I will be strongly supported through the expansion of the trading capability within my investment team. This will enhance returns, lessen risk and optimise performance in the months ahead."
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