London-based Noble Asset Management Ltd (NAM) has teamed up with Kenneth Jeyaretnam to launch the Stamford Global Event Driven Fund.
The fund will invest principally in merger arbitrage, valuation and spin-offs and distressed debt/restructuring opportunities. The fund will be Global (ex-US domestic) with exposure predominately to Europe, Asia and cross-border US.
Kenneth Jeyaretnam, Principal, Stamford Capital Ltd commented: 'My exclusive network of advisers and researchers based in the Asian and Australasian regions that is exclusive is one of the competitive edges that I can offer over my peers. Asian opportunities will continue to be a growing contributor to the performance of my strategy. '
He added: 'The strategy is biased to the regions where there are most opportunities but importantly my strategy excludes US domestic special situations which I view as a crowded space.'
Ken has nearly twenty years of arbitrage trading experience across Europe and Asia, including four years at Nomura Securities where he ran an internal hedge fund with a global mandate but concentrated mainly on Asian equity volatility and event driven. He was previously the Principal Investment Manager of the Titanium Global Event Driven Fund, which was launched in March 2004 utilising a strategy developed by him. The fund delivered a net return to investors of 18.15% for the year (19.45% annualised) with a Sharpe ratio of 2.93.
Prior to launching and managing the Titanium Global Event Driven Fund, Ken was Investment Manager of the Cross Europe Fund (a European Event Driven strategy). Cross Asset Management Ltd was sold in 2005 to RAB Capital plc.
Shabir Chowdhary, Managing Director, NAM, said: 'Ken already has significant commitments from a variety of fund of fund and institutional investors and will be supported by a first class team of Analysts for an early July launch.'
NAM has been set up in direct response to growing demand from sophisticated investors seeking to capture the early stage out-performance often displayed by emerging managers and to provide access to future stars.
Ken, Principal, Stamford Capital Ltd commented: 'We are delighted to be working with NAM. The Principals and employees of NAM have great integrity and have shown real commitment to building a highly successful asset management business. Their network within the industry and relationships with potential investors to include strategic investors is unrivalled.'
Background note: Noble Asset Management Limited (NAM) is an investment management company authorised and regulated by the Financial Services Authority in the UK. The objectives of the NAM business are two-fold: to provide emerging managers with a robust central operating infrastructure with proven distribution capability; and to provide investors with access to high calibre investment teams whilst mitigating the operational or business risks associated with investing in emerging managers.