Business Courier – It’s not exactly on the cutting edge, but Cincinnati is starting to join the trend of hedge funds popping up like weeds.
Anderson Township-based Nottinghill Investment Advisers is at least the third local firm to start a hedge fund in the past year. Only a few existed locally before tha
The number of hedge funds, which typically offer more aggressive strategies and are regulated differently from mutual funds, has surged nationally from 3,800 in 2000 to 8,661 at the end of 2005, according to Hedge Fund Research Inc., a Chicago research firm.
Nottinghill launched Southampton Capital Partners at the beginning of the year, said Doug McPeek, a Nottinghill managing director. The fund uses strategies McPeek and Russ Stewart have used since founding Nottinghill a decade ago. But it can use short-selling to bet that stocks will decline and it can borrow money and invest it in an effort to increase returns.
“It’s a more aggressive version of our core work,” McPeek said. “This is a natural extension.”
