Fund launches & closures

Capital Group veteran starts long/short equity fund

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Ashish Kumar had spent seven years investing at the $1.1 trillion Capital Group.

   
  Ashish Kumar
Ashish Kumar, until June an analyst helping to run $2.5 billion in equity investments at the Capital Group, has started Maurya Capital in San Francisco.

The fund runs a long/short equity strategy partially focused on the oil sector, principally companies with market capitalizations of more than $200 million, the founder confirmed in a telephone interview. The portfolio consists of approximately 15 long positions and 5 short ones. Kumar described it as "very much fundamental investing with bottom-up stock picking."

"The model is close to a Warren Buffett or a Baupost model,