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


Michel Danechi
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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