Paul Zemsky and Donna Lloyd, both former JPMorgan Investment Management big shots, have launched their own international fixed-income hedge fund. CaliberOne Private Fund Partners had a soft launch this month raising $100 million in assets and is expected to officially launch after the New Year.
The fund uses a market timing approach to the fixed-income and currency markets, with a focus primarily in G-7 countries. The fund will invest in liquid fixed-income instruments including Treasury, agency, mortgages, sovereign bonds, futures, options, major currencies and derivatives on these securities. On average, the portfolio can be levered as much as