New York-based Ed Capital, an international investment advisory firm that specializes in Russian securities is planning to launch an alternative UCITS – Hudson River Russia Growth F
New York-based Ed Capital, an international investment advisory firm that specializes in Russian securities is planning to launch an alternative UCITS – Hudson River Russia Growth Fund – with USD10million reported FINAlternatives this week. The fund will be supported on Alceda Fund Management’s UCITS platform. The portfolio of between 30 and 50 names will have a long-bias and invest in stocks and equity derivatives. Elliott Daniloff and Ilya Kravets are to manage the fund. With regards to remit, growth opportunities will be focused on Russian stocks as well as those in members of the Commonwealth of Independent States. European and Asian investors are to be the first investor group offered the opportunity to gain exposure to Russia, with the fund likely to open up to US, Middle East and Latin American investors further down the line. Currently, the firm’s Hudson River Russia hedge fund invests in small and mid-cap value stocks. According to Hedge Fund Research, its HFRX Russia/Eastern Europe Index gained 21.60 per cent in 2010 and is up 2.84 per cent YTD. Daniloff was quoted in the press as saying: “We strongly believe that this is the right time to invest in Russia,” adding that valuations there still remain attractive.