Traditional and alternative asset managemer, OM Investment Management has launched a new hedge fund, the OM Global Investment Fund.
Launched on April 1, 2010, the new hedge fund expects to raise $50 million by June, with a target of $100 million by year end. The fund has returns of 22.3% as of 4/12/2010 in the first month alone.
"The OM Global Investment Fund targets 1500 of the most liquid global companies and is open to new investors." Portfolio manager Gignesh Movalia, said of the launch, "OM Investment Management is a multi-strategy investment and wealth advisory firm created to provide traditional and alternative asset management exclusively for wealthy individuals, institutional investors, and retirement plan sponsors."
The new hedge fund is a global long/short fund that uses a blend of fundamental and technical analysis to generate positive absolute returns in rising, falling and volatile, range-bound markets.
Movalia started OM Investments Management in 2007 and formed OM Global Investment Fund as a standalone fund structure in April 1, 2010. Movalia is the chairman and chief investment officer of OM and serves as portfolio manager for the equity fund."
Target size for the fund is currently $200m in assets under management in one year. Goldman Sachs is the prime broker for the fund while Patke & Associates will serve as the auditor and BGT Consulting, the administrator.
Prior to the formation of OM, Mr. Movalia was an Investment Advisor at Morgan Stanley & Co. and UBS, where he advised a niche group of wealthy clients representing several hundred million dollars in investment assets spanning equities, fixed income, and alternative investments. He also serves on the Advisory Board of Directors of Fahrenheit Investments, a Chicago-based hedge fund.