Hedge Funds

Garea and Wimsatt debut financial services product

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New Jersey-based Axia Financial has launched a financial services fund. The new vehicle is run by portfolio manager and firm founder, Raymond Garea, with John Wimsatt as analyst.

Axia Financial seeks opportunities in the financial services sector including banks, brokers, asset managers, insurance companies, finance companies and REITs. It invests mostly in undervalued small to medium-capitalization companies. The fund holds positions mostly in U.S. companies, but can invest in other developed markets such as Europe, notably the UK.

Garea founded Axia in 2002. Prior to that, he was a senior member of the portfolio management team at Franklin