Hedge Funds

Ramsey launches short fund

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Alternatives operation Ramsey Asset Management has begun trading a short-only hedge fund that will contain the best bearish bets in its flagship long/short fund.

Ramsey, which is headed by W. Russell Ramsey, a co-founder of the investment banking firm Friedman, Billings, Ramsey, launched its short vehicle with $5 million of seed capital on January 1. The fund is designed for investors who have a high tolerance for risk and a desire for returns that are uncorrelated with the broader equity markets.

Ramsey now runs $240 million in its long/short Total Return Fund and will close the new vehicle