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22 Jan 2008

Brazilian Hedge Fund Manager AFX Acquired by $20 Trillion NY Mellon Corporation

Hedge fund manager ARX Capital Management has been acquired by The Bank of New York Mellon Corporation.

The Brazilian hedge fund manager is headquartered in Rio de Janeiro, Brazil, and specialises in multi-strategy, long/short and long only investment strategies and has more than $2.8 billion in assets under management.

Founded in 2001, the company manages 20 equity and hedge funds, in domestic and offshore versions. ARX will be integrated with BNY Mellon Asset Management Brasil with the combined business becoming one of the leading asset managers in Brasil.

Jose Alberto Tovar, CEO of ARX Capital Management, will become the head of the integrated asset management business in Brazil. "We are already seeing new business as a result of the acquisition which is testament to our teams working successfully during integration." Tovar said.

The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. It has more than $20 trillion in assets under custody and administration, more than $1.1 trillion in assets under management and services $11 trillion in outstanding debt.

Alex Akesson
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Emerging Markets Fund Of Hedge Funds Launched By Matrix

West Palm Beach (HedgeCo.Net)- Matrix announced the launch a new fund of hedge funds (FOHF), the Matrix Emerging Markets Index Fund. The FOHF is designed to allow participation in the upside of emerging markets, whilst reducing downside risk. The initial offering opens on the 28th of January through the 20th of February 2007.

The FOHF is being managed by Maxam Capital Management LLC, with approximately 40 underlying hedge funds, the portfolio will be broadly diversified across emerging market regions and asset classes.

According to the predicted launch portfolio of the new fund, back tested, the FOHF would have provided total returns of 305% but with a maximum drawdown of only 9.71% over the period from the beginning of 2000 to the end of November 2007.

"The portfolio will consist of around 40 Underlying hedge funds heavily diversified across the Far East, Eastern Europe, Latin America and the Middle East and will include equities, debt, distressed securities and currency managers, " Bridget Guerin, managing director of Matrix Money Management said, "The managers in the portfolio will be able to hedge out risk via short exposure and other techniques."