Swiss asset manager Unigestion has lifted out an investment team from London-based hedge fund firm, Cube Capital.
The team manages the Cube Global Opportunities fund, which uses long/short strategies in equity and credit.
The team is made up of Nicholas Linnane, investment manager, Chrysis Aristidou, investment analyst, and Faten Benali, portfolio administrator.
The fund achieved an annualised return of 13.1% at the end of December last year with annualised volatility of 8.5% since inception in May 2009.
“We are convinced that the exceptional attributes of the strategy and the investment team’s expertise combined with Unigestion’s risk management culture will make a powerful combination,” said Fiona Frick, chief executive officer of Unigestion.
According to a statement by Cube Capital, after developing a number of businesses under the Cube umbrella, the founders decided to take a different path. The firm has decided to spin-out long-term strategies into a separate business, giving a return of capital to investors through the sale of the hedge fund business to a strategic buyer.
The deal with Unigestion completes the process.
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