Culross capitalises on thematic investing

Wed Nov 3, 2010

Size is the enemy for mid-sized boutique that takes advantage of nimble plays

By Claire Makin

For a boutique firm, Culross Global Management has some big ideas. Not that Culross wants to run vast amounts of assets; in fact quite the reverse. Chief executive officer and founder Nigel Blanshard believes that "size is the enemy of every fund manager".

Culross itself manages $600 million and its four funds of hedge funds are mostly invested with managers who run less than $250 million. Being smaller means that Culross can be more nimble. As a theme player, the firm lives and dies by its skill not only in spotting big macro ideas but more importantly in making money from them. "It is about translating that story into which managers we are going to own," Blanshard says.

So far, this approach seems to have worked. The firm’s flagship Culross Global Fund has not had a down year since its launch on December 31 1999. In 2008,...

ISSN: 2151-1845 / CDC10004H

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