Ayaltis has launched the Ayaltis Acantias Offshore fund, a fund of hedge funds focused on undervalued assets in the stressed and distressed credit space.
The fund aims to capture value in all credit markets investing across all seniority levels following through the current period of strong technical versus fundamental dislocations expected to last for the next few years.
The fund is very concentrated, investing in between six and eight seasoned distressed credit hedge funds with proven investment skills, leadership, innovation and management talent.
The fund’s target is an annualized return of 18 to 24 per cent per annum with a volatility of eight per cent per annum over a three to five years investment horizon. The fund is up 8.35 per cent year-to-date and since its launch in March 2010.
Ayaltis, the investment adviser of the fund, has also hired Guillermo Worlicek (pictured) and Massimo Martino to strengthen its team.
Worlicek has joined from Harcourt Investment Consulting where he worked for five years, most recently as executive director. He will be a partner and is responsible for implementing a risk and quant management framework within Ayaltis.
Martino has joined from Banca del Ceresio where he spent more than six years as fund operations manager of its six fund of hedge funds managed by the bank. At Ayaltis, he will be responsible for the complete life cycle of the fund operations service.
Ayaltis is a fund of hedge funds adviser with focus on fixed income and credit strategies based in Zurich, Switzerland.