London-based alternative manager Selwood Asset Management is marking its first anniversary since launch and has had an increase in assets to USD350 million.
Selwood AM is focused on liquid Investment Grade Credit in Europe and North America. The strategy aims to maintain a market neutral profile while embedding tail hedge features against extreme market scenarios. The firm was founded in 2015 by credit specialist Sofiane Gharred, and in January 2016 Selwood brought in Malcolm Butler (ex-Citi and COMAC Capital) to build out the business.
Now Sofiane Gharred and Malcolm Butler head-up a team of 11 professionals, bringing with them a wealth of sectoral experience. Gharred says: “I have been trading credit for 15 years and Selwood’s strategy is one of the rare and truly alternative investment opportunities, offering liquidity, consistent returns, and low correlation to other asset classes. Our approach is very different from traditional long-short asset managers as the performance delivered to investors is less sensitive to market timing.”
Malcolm Butler, Chief Operating Officer of Selwood AM, says: “We are pleased to have the support of large institutional investors. Selwood AM is differentiated in both the strategy, and the skill and experience of the team. Furthermore, our initial investment in systems has allowed us to build an operational platform that allows automation of risk and workflow in line with best industry standards.”
Selwood AM Credit Fund was seeded by Tages Capital, one of the most active seed investors in Europe at present.
Mark de Klerk, Head of Seeding Strategies at Tages Capital, says: “We are very excited to be partnering with an investment team of such a high calibre which has produced consistent returns throughout the recent market cycle. The potential convexity and low correlation to other strategies within our portfolios is particularly interesting for our investors. We were also attracted by the fact that the principals are building a long term institutional business, as evidenced by the extensive experience of the non-investment team partners involved”.
