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.<\/p>\n
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.<\/p>\n
“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.<\/p>\n
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.<\/p>\n
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.<\/p>\n