ZURICH, Switzerland (HedgeWorld.com)–Absolute Return Europe, a long/short hedge fund run by Florian Homm, listed its euro-denominated shares on the Irish Stock Exchange and signed a research agreement with Frankfurt Performance Management AG.
Ullrich Angersbach, one of the fund managers, explained that certain types of investors are required by regulators in their own countries to limit their hedge fund investments to those that are listed on an exchange. By listing on the ISE, the Absolute Return Europe fund will be meeting this requirement.
“The ARE Fund will now be able to accept subscriptions from a wider range of investors,” said Mr. Angersbach, in a statement. The fund, started March 1, 2002, manages assets of more than 50 million euros (US$56.6 million). It also recently has introduced shares denominated in U.S. dollars.
Mr. Homm is a veteran of Peter Lynch’s investment team at Boston-based Fidelity. Besides him and Mr. Angersbach, the fund’s managers include Darius Parsi. The firm, called Fortune Management Ltd., is based in Switzerland but has trading operations in Spain.
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The team also announced that it has partnered with Frankfurt Performance Management to expand coverage of stocks; in particular, to catch company-specific developments as economic outlook improves. Frankfurt Performance Management, managed by Manfred Piontke and Martin Wirth, conducts research on 500 to 600 companies and runs a Germany fund.