London- Hydra Capital Management Ltd., a London-based specialist provider of Global Emerging Market Fixed Income strategies, announces the launch of a GlobalMacro Emerging Market Debt fund investing in external and local market debt and currency instruments of emerging market countries.
Colm McDonagh, former Head of Global EmergingMarket Debt at Aberdeen Asset Management, will manage the fund using an investment process developed over 10 years experience of the asset class involving credit/country analysis, security selection,global macro/liquidity overlay, and catalyst driven investment execution.
Previously Colm managed several total return global emerging market debt return funds generating anoutstanding track record. In 2004 he was winner of the Global Emerging Market Fixed Income category of the Morningstar Fund Manager of the Year Awards, and he is listed in Nelson’s Marketplace’sWorld’s Best Money Managers over 1yr, 3yr and 5yrs as at the end of 2005.
Commenting on the launch of the new fund, Jim Summers, Chairman and CEO, said:
“We are delighted to add a directional Global Emerging Market Debt fund that compliments theexisting Arbitrage strategy. In adding this fund we are increasing the types of market exposure Hydra Capital Management offers to investors in a growing asset class. Colm has anoutstanding track record, and his investment approach will contribute significantly to the expertise in Global Emerging Fixed Income provided by the firm.â€Â
About HydraCapital Management Ltd.
Hydra Capital Management Ltd, a UK registered company authorised and regulated by the FSA, is wholly owned by the management and acts asinvestment advisor to the Lodsworth Arbitrage Fund Ltd.
The Lodsworth Arbitrage Fund was established in December 2003 with an investment mandate to exploit credit-neutralinefficiencies within global sovereign emerging fixed income and derivative markets. By utilizing liquid long/short paired trades within the same country, the Fund has only had 3 down months sinceinception and has accrued net annual returns of 10.55% with a rolling 12 month Sharpe Ratio of 3.09.
The Lodsworth Global Emerging Market Debt Fund begins investing July3.
For further information on the Lodsworth range of funds please contact Paul Taylor on
Tel. +44 20 7583 6666 or at [email protected]
