Powe back with long-biased strategy

Tue Sep 22, 2009

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After shutting down his flagship Modulus fund last year, Rory Powe is aiming to incorporate the lessons learned with the launch of his firm's new PCM Europe vehicle

Rory Powe, who shut down his formerly high-flying Modulus Europe fund last year amid a period of poor performance and high redemption requests for many hedge fund managers, has launched a European long/short equity fund that he says aims to incorporate many of the lessons he and his team learned last year.

Rory Powe

The fund, PCM Europe, launched at the start of July and is managed by Powe Capital Management, which former Invesco manager Powe founded in 2002. The fund will take a clear long bias, with the long portfolio representing anything from 0-120% of the NAV, while the short book will be kept relatively small at 0-50% - with Powe expecting it to be at the lower end...

ISSN: 2151-1845 / CDC10004H

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