Hedge Funds

Zadig’s Herbert racks up results with Camox


Jonathan Herbert’s background as a former bond trader has also helped to shape his approach to risk


Jonathan Herbert

For the last three years one of the hidden stars among Europe’s hedge funds, Jonathan Herbert’s Camox – part of Laurent Saglio’s Zadig stable – has been deliberately low profile, quietly clocking up impressive numbers while keeping assets small at around $35 million.

The fund was up 25% in 2009, 26% in 2010 and – perhaps most notably of all – achieved a positive 4.7% result in 2008. After its first three years, through the most torrid and volatile market conditions imaginable, the fund is annualising at 19% – on annualised volatility of