WEST PALM BEACH, FL (HEDGECO.NET) – A former hi-tech analyst at Salomon Smith Barney has announced plans to launch a new hedge fund. According to news reports, Victor Halpert, has raised about US $10million from individuals and institutional investors in Israel towards the establishment of the new fund. Halpert is also committing US $1 million of his own funds into the planned Halpert Capitalhedge fund.
The new fund would be investing in global equities, according to the report, but will have a focus on Israeli companies. For about 12 years, Halpert has been monitoring Israeli stocks for several banks. About 20-25% of the assets of the new Halpert Capital will be dedicated to Israeli firms. Another 50% will be invested in US stocks, and the rest of the portfolio will be invested in unspecified global equities.
The Halpert hedge fund uses a strategy to guarantee an annual yield of 15-25% regardless of market direction. The fund will be investing in about 20 firms with a market capitalization of between US$ 50 million and US $5 billion, according to published reports.
While the fund charges US $150,000 for initial investment, such minimum will ultimately be increased to US $500,000. It is unclear when the minimum initial investment will be raised. The fee structure for the new vehicle was not immediately provided.
Paul Oranika
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