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18 Jun 2009

Global Multi-Strategy Hedge Fund Launch By Bullman

Bullman Investment Management (BIM), headed by Nick Bullman, has officialy launched the Bullman Global Fund, a global multi-strategy hedge fund with a minimum investment of $100,000.

"Since launch, the Bullman Global Fund has returned 0.76% compared with its benchmarks- the Tremont MS Index and MSCI World Index returns of -13.76% and -36.43% respectively over the same timeframe." Nick Bullman, Managing Partner at BIM said, "We believe there are times in the economic cycle when macro investments provide the best risk adjusted returns and liquidity. At other times, equity valuations become so compelling that they provide a better long term risk reward payoff. Our strategy is to run three distinct and separate portfolio modes. Stress Mode, Transition Mode and Benign Mode. These modes are triggered by objective external inputs. This approach allows us to control risk and preserve capital, and to search the globe for investments that meet our risk return objectives."

The fund’s objective is to seek long term capital appreciation in a broad array of quoted instruments, notably global equities, bonds, commodities and derivatives.
While the fund has been managing money since June 2008, marketing of the fund has been low key until now. With the appointment of Roger Mortimer (previously Vice President of Kotak Mahindra (UK) Ltd) to Head of Sales, the firm intends to raise assets from third party investors now that a one-year track record has been achieved.

Roger Mortimer, Head of Sales at BIM, said, "I am delighted to have joined BIM, which I believe has a sensibly conservative approach to investing in the current climate with the flexibility to transit through to a higher risk strategy, as and when true market fundamentals return. The fund is aimed at long term investors, with a focus on minimising draw-downs during times of high volatility, whilst maintaining long-term appreciation for the patient investor through a value-based approach. In conjunction with Bath University, BIM is constantly developing its own Investment Risk Profiling System, which I believe will deliver significant improvements on the standard VaR models currently in use."

BIM was founded in June 2008 by Nick Bullman, was formerly Chairman and Head of Risk at Investor Select Advisors, a global fund of hedge funds. In addition to Nick’s experience in the hedge fund space, over the past 26 years in the financial industry he has also worked at Scrimgeour Vickers, James Capel and Goldman Sachs in Equity Sales and syndication where he gained direct knowledge of all aspects of analysis with regard to global companies. Nick has seeded the Bullman Global Fund with a significant portion of his personal wealth.

Morgan Stanley Launches Enhanced Protection for Hedge Fund and Prime Brokerage Clients

Morgan Stanley is offering enhanced asset protection to its prime brokerage clients, announcing an expansion of its prime brokerage offering with the launch of new custodial services for long securities held by Prime Brokerage clients.

The custodial services will be provided directly by Morgan Stanley Trust National Association (MSTNA), a U.S national chartered trust company. MSTNA gives clients the option to hold their long securities with a Morgan Stanley subsidiary that is independent from Morgan Stanley's U.S. and U.K. broker dealers.

"Recent market events have increased the demand for solutions that mitigate counter-party risk for hedge funds," said Rich Portogallo, Head of Institutional Clients and Services at Morgan Stanley. "The launch of new custodial services from MSTNA underscores Morgan Stanley's commitment to providing hedge fund managers and investors with alternative asset protection solutions in addition to our best in class financing services and technology."

"We are excited to offer this new asset-protection platform to our clients," said Joe Davis, Managing Director in Morgan Stanley Prime Brokerage and President of the custody business of MSTNA. "We have created a platform that provides a seamless client experience across Prime Brokerage's and MSTNA's systems, and offers fully automated transfers, aggregated reporting and a single client service point of contact."