Hedge Funds

Ex-Vega partner debuts second fund


New York-based PV Capital has launched a second, more aggressive macro fund. Run by Pamkaj Vaish, a former junior partner at billion-dollar Vega Asset Management, the fund has a higher volatility - 6%-10% - than the original macro fund which has a volatility of between 3% and 5% annually. Vaish found that investors were willing to take on a bit more risk for increased return potential, which led to the decision to launch the Reva Aggressive Macro Fund. Reva will double the positions of PV's existing macro fund, subsequently doubling the amount of leverage employed in that first