Hedge Funds

Merrill's Wahab emerges again

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Norman Wahab, who has been running $300 million of proprietary capital in an emerging markets strategy for Merrill Lynch, is planning to launch his own emerging markets value fund.

The United Tribal fund has some characteristics of a global macro fund, but will aim to be mostly uncorrelated by using fundamental research and proprietary market-sentiment indicators. The fund will levy a 25% performance-based fee and no management fee.

Before joining Merrill, Wahab ran more than $100 million in proprietary capital as part of two-man team at Prudential Securities.