Reuters UK – Jupiter Asset Management is planning to launch a hedge fund for top-performing fund manager Philip Ehrmann and may also launch a “green” hedge fund, the company said on Friday.
Ehrmann, who was formerly head of Pacific and emerging markets at Gartmore, where he ran 2 billion pounds in assets, joined Jupiter last year and now manages the newly-launched 60 million-pound Jupiter China fund and the 40 million-pound Jupiter Asian fund.
“The (hedge) fund is being run as a paper portfolio at the moment. The plan is for us to seed it with internal money in April and then look to open it up (to investors) later this year,” a Jupiter spokeswoman said.
The fund, an Asian long-short equity fund, is likely to be opened up to investors in the second half of the year, although no definite date has been decided upon, she said.
Since launch in October, Ehrmann’s Jupiter China fund has risen 24.7 percent, compared with a 15.61 percent gain in the MSCI Zhong Hua Growth index and an average 8.75 percent gain among peer funds.
