Daily Telegraph – Ruth Keattch, the star fund manager nicknamed "Rock Hard Ruth", is to make a come-back with a move to Artemis, the activist fund manager with £14bn under management.

Mrs Keattch, who earned a fearsome reputation at Deutsche Asset Management, where she fought against private equity firms trying to snap up publicly listed companies on the cheap, has been hired by Artemis to again spot the value in companies that have been hit hard by the credit crunch.

She has been appointed to co-manage Artemis’s flagship fund, the £800m Special Situations fund with Derek Stuart.

Mr Stuart, a founder member of Artemis, said: "We want to focus on the stocks that have been hardest hit in the recent sell-off. Ruth has a formidable reputation in the area and we’re very excited that she’s joining."

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New York (HedgeCo.Net) – David Ko, a former quantum physicist and Long-Term Capital Management employee, has set up his own hedge fund according to a report by the Wall Street Journal.

Kurtosis Capital Partners will employ a global macro strategy and hopes to attract between $100 million and $250 million initially.   Ko has partnered with Stephen Cain, once the global head of currency trading at Deutsche Asset Management. 

"Our strategy is to buy options when we think a market is going to become volatile. The closer to the dislocation, the better. Then, at the moment of highest volatility, sell," he said.

Global macro funds generally look for tiny discrepancies in the market using complex equations and mathematical solutions.  They then capitalize on those discrepancies by betting on which way they will eventually regulate. 

Ko stresses that the fund won’t be using leverage, unlike Long-Term Capital Management, which used heavy amounts of leverage that only magnified the huge losses it suffered.  LTCM infamously ended up losing close to $5 billion of investor’s money.

Prior to his hedge fund career, Ko helped to author 10 academic papers on quantum physics while studying at Oxford University.

Julie Scuderi
Senior Editor for HedgeCo.Net
Email: julie@hedgeco.net

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West Palm Beach (HedgeCo.net)- Soon after the scheduled departure of several senior traders and executives was announced, hedge fund GLG Partners has begun hiring new experts to fill in the gap.

Experts such as as Galia Velimukhametova, Fabrice Bay, and most recently Driss Ben-Brahim, a star Goldman Sachs emerging markets trader. He is to manage and hopefuly expand GLG’s $1.2 billion special situations portfolio.

Galia Velimukhametova is to join the hedge fund’s London office as a Portfolio Manager. With extensive background in the area, Galia will focus on distressed situations. Galia joins GLG from King Street Capital, where she was a Managing Director and Member of the European Investment Committee.

Fabrice Bay was previously a Managing Director at DWS/Deutsche Asset Management in Frankfurt, his significant experience in managing global long-only and 130/30 portfolios will play an important role in driving forward GLG’s offerings in these areas, according to GLG.

As of March 31, 2008, GLG has managed a net AUM (assets under management) of over $24.0 billion. GLG’s capital appreciation strategies target long-term capital appreciation through diversified portfolios of global equities and bonds.

Since its inception in 1995, GLG has built on the roots of its founders in the private wealth management industry to develop into one of the world’s largest and most recognized alternative investment managers, while maintaining its tradition of client-focused product development and customer service.

Alex Akesson

alex@hedgeco.net

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