Hedge Funds

Wermuth climbs back after 2008 meltdown


After losing 92% in 2008, the Russian-related Greater Europe Fund has a long way left to recover. But the fund is already up by more than 250% since the start of 2009


Jochen Wermuth

Wermuth Asset Management, the Wiesbaden-based hedge fund outfit focused on Russia-related investments and led by CIO Jochen Wermuth, has started to climb back impressively after a disastrous year in 2008 and is now seeking to rebuild its battered asset base.

WAM’s flagship Greater Europe Fund lost 92% of its value in 2008 – but rebounded strongly in 2009, posting an annual return of 219.67%. 2010 was a hugely volatile but ultimately profitable period for the fund – with strong monthly returns in the latter months taking it to 34.6% after a year that