What's in a name? Glasnost Hedge Fund

Phillippe Gougenheim, formerly of Man Group and Unigestion, is busy plotting his next hedge fund move, Reuters reported this week. The industry veteran plans to launch a $50m fund in June that can shield investors from movements caused by the influence of politicians on markets, with a particular focus on the eurozone. “My idea is to be everything that hedge funds are not: liquid, transparent, and with a focus on capital protection,” Gougenheim told the newswire.

Hence, in theory, the name. Glasnost, a Russian word, translates roughly as openness and was used to describe Mikhail Gorbachev’s policy of transparency and freedom of information towards the end of the Soviet Union. The strategy was designed to reduce corruption, which was rife at the time in the Soviet government and Communist party.

Gougenheim’s version of transparency will aim, instead, to generate interest among investors while making solid returns too. The fund will offer weekly liquidity with three days’ notice, and will disclose all positions to investors on a monthly basis. It is due to be launched in June and domiciled in Cayman. Parent company Gougenheim Investments is reportedly hiring a COO, portfolio manager and marketing staff. 

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60 seconds with... Neal Berger

CAN YOU DESCRIBE YOUR ROLE?
I am the founder/president of Eagle’s View Capital Management, an investment manager to three fund of funds products as well as a hedge fund advisory firm.

IF YOU WERE DOWN TO YOUR LAST $1,000, HOW WOULD YOU INVEST IT?
I’d combine it with sweat equity and start a business. Maybe I’d buy cheap cars and part them out. Possibly buy up contents of unpaid storage lockers and sell them on eBay. I’m a trader at heart and maybe I’d be lucky enough to make a few bucks and possibly land a reality show.

WHAT WOULD YOU DO IF YOU WERE IN PRESIDENT OBAMA’S SHOES?
I’d go on TV once a week and give the people an update of what I’m doing to improve the country and the world. Just like running a fund, communication with the people you report to is essential to foster mutual understanding. I don’t think the public hears from the President enough.

WHO WOULD PLAY YOU IF THEY MADE A MOVIE ABOUT YOUR FIRM?
Definitely George Costanza (aka Jason Alexander) from Seinfeld. I love that guy. 

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What's in a name? Red Kite Compass Fund

In what proved to be a sobering 2011 for the financial world, beating the markets and gaining good returns might have been a flight of fancy for many hedge funds.

This wasn’t the case for the Red Kite Compass Fund however, which managed to navigate through the abysmally tough markets and soar to new heights. Named after the endangered bird of prey that is native to Europe and North Africa, the $400m fund topped Bloomberg Market’s ranking of mid-size hedge funds for the first ten months of 2011, and, far from falling off of its perch it reportedly returned 47%.

The fund is part of the London-based RK Capital Management, a metals-trading hedge fund firm with $1.3bn in assets under management, which specialises in buying and selling copper. It is co-founded by Michael Farmer, a conservative evangelical who says that his faith makes him a better money manager by keeping him humble. Sadly, the Red Kite bird isn’t sharing in RK Capital’s success and is now a rare sighting on the brink of extinction, compared with some 200 years ago when it was a common British bird seen almost anywhere in the country.

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60 seconds with... Fabio Silveira

CAN YOU DESCRIBE YOUR ROLE?
I am a principal at Chicago-based L/S Commodities’ related equities and futures hedge fund. I run Tusker’s operations, risk management, compliance and investor relations functions.

IF YOU WERE DOWN TO YOUR LAST $1,000, HOW WOULD YOU INVEST IT?
90% in the Tusker Investment Portfolio, 5% in selected equity names and 5% in fixed income.

WHAT WOULD YOU DO IF YOU WERE IN PRESIDENT OBAMA’S SHOES?
I would have focused on job creation from day one, while he had control of the House and the Senate. There is a way out of the current crisis and it encompasses targeted budget cuts and new revenue generation initiatives. The grim divide between Democrats and Republicans just made this more difficult. There are no clear suggestions to solve that, other than exercising our voting right wisely.

WHO WOULD PLAY YOU IF THEY MADE A MOVIE ABOUT YOUR FIRM?
It would be a tough choice between Kevin Kline, Jeff Bridges, Denzel Washington or Dustin Hoffman. Unless Eddie Murphy was interested.

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