People moves

Exane’s Ragagnon to step down as co-manager of Gulliver fund

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Hervé Ragagnon, the long-time manager of the long-term defensive strategy within Exane Asset Management’s flagship $1.9 billion Gulliver long/short European equity fund, will hand over full responsibility for the fund to co-manager Alexandre Dergatcheff on 1 January.

The Exane Gulliver Fund is Paris-based Exane’s longest-running fund, having launched in October 2001. The fund employs two strategies: the long-term defensive strategy managed by Ragagnon and Dergatcheff, and a pair trading and arbitrage strategy run by Frédéric Gourdeau since he joined Exane at the start of 2008.

Ragagnon managed the defensive strategy on his own until Dergatcheff was hired at the beginning