Traxis fund debuts with $400m

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The new Traxis fund run by Barton Biggs, the former market strategist of Morgan Stanley, has shot out of the gate with an astonishing $400 million in assets just days after the fund began trading in early June. The fund's assets have led hedge fund officials to speculate that Traxis will be one of the largest hedge fund launches - if not the largest - this year. Biggs is running a global multi-asset strategy fund and is joined by former Morgan Stanley colleagues Cyril Moulle-Berteaux and Madhav Dhar.

The fund is the first in a line of single-manager