Verno Investment Management, the Moscow firm led by former Kazimir Partners co-founder Dimitri Kryukov, has made a very positive start to the year with its flagship Verno Russia Fund.
The strategy employs a blend of fundamental investing, event-driven plays and short-term trading to exploit opportunities in Russia and the wider former Soviet Union, and is up 14.55% in the first quarter.
The fund represents something of a continuation of Kryukov’s work at Kazimir, one of the first true Russian hedge funds and the firm he established in 2002 along with Frank Mosier. The co-founders parted ways in 2009 and Kryukov launched Verno in January 2010, having also brought onboard most of his former team at Kazimir.
Verno Russia comprises four main investment styles, spanning fundamental stock selection, special situations, trading and a dedicated hedge book. “Fundamental investing is the core of what we do: idea selection driven...