People Moves

Ex-Vega man Velasco takes over Valorica Macro


Portfolio manager Juan Manuel Mazo has left Madrid-based hedge fund firm Valorica, where he co-managed the Valorica Macro and Valorica Macro Return funds.

Mazo is leaving “to undertake new professional projects,” according to a statement from the firm. He is understood to be taking some time out before lining up a job elsewhere.

Mazo joined the firm in January 2008 and launched the Spanish-domiciled Valorica Macro fund the following month. Valorica Macro Return, an Irish-domiciled UCITS III version of the same strategy, launched in June 2009.

Antonio Velasco will now head up the macro team, which also includes a trader