Wermuth climbs back after 2008 meltdown
January 26, 2011
After losing 92% in 2008, the Russian-related Greater Europe Fund has a long way left to recover. But the fund is already up by more than 250% since the start of 2009
Wermuth Asset Management, the Wiesbaden-based hedge fund outfit focused on Russia-related investments and led by CIO Jochen Wermuth, has started to climb back impressively after a disastrous year in 2008 and is now seeking to rebuild its battered asset base.
WAM’s flagship Greater Europe Fund lost 92% of its value in 2008 – but rebounded strongly in 2009, posting an annual return of 219.67%. 2010 was a hugely volatile but ultimately profitable period for the fund – with strong monthly returns in the latter months taking it to 34.6% after a year that saw several double-digit up and down months.
This most recent run of good performance has been overseen by John Winsell Davies, previously CIO at Diamond Age Russia Fund and formerly with Alfa Capital and Franklin Templeton, who became lead fund partner in June after joining Wermuth in May.
In the decade prior to the...
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