Fund profile: Tenax makes history

Tue Mar 4, 2008

It’s a safe bet to say that hedge fund managers almost invariably seek to build successful firms based on noteworthy performance from their funds, but very few can actually claim to be making financial history. Yet, history was made in August 2007 when Massimo Figna’s Tenax Financials Fund became the first non-UCITS foreign fund to receive authorisation from the Bank of Italy. Francesco Di Carlo of the Milan-based law firm Annunziata e Associati, who assisted Tenax in obtaining registration with the Bank of Italy, justifiably describes their success as a “milestone” for the Italian hedge fund industry. For the first time, this type of fund can now be marketed directly to Italian institutional investors.

Massimo Figna, chief executive officer, Tenax

The Tenax Financials Fund was launched in January 2005 and is listed...

ISSN: 2151-1845 / CDC10004H


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