Danechi drives strong returns with EM fund as Armajaro expands horizons
Mon Nov 26, 2012
Three years after launching Armajaro’s first hedge fund outside the pure commodities space, ex-Lehman man is deriving good synergies within the trading firm for his emerging market strategy
Armajaro, the London-based commodities and financial services
group, has been one of the most striking success stories of the
industry in recent years - growing from a modest trading
boutique, with nine employees at launch in 1998, to a
multi-billion dollar global enterprise across physicals and
futures trading, securities and asset management.
Today its expanding hedge fund unit, Armajaro Asset
Management, manages $1.5 billion and rising - and one of its
major successes has been the Armajaro Emerging Markets Fund,
which celebrated its third anniversary at the end of July. The
fund has produced a healthy return since inception and seems
likely to notch up its best year to date in 2012.
The fund is managed by Michel Danechi, a seasoned trader who
was head of emerging market equities at Lehman Brothers in
London until 2008. Rather than being a traditional, bottom-up
equity play on emerging markets growth, Danechi combines...
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