PARIS (HedgeWorld.com)–BAREP Asset Management officially launched its new long/short equity program with more than US$100 million in assets under management.
The new fund, BAREP Condor Long Short Equity, had a soft launch in December with US$15 million in seed capital, following a six-month incubation period. Barep executives are targeting a maximum of US$300 million in assets in the new fund.
The fund trades mainly large-cap equities from an investment universe of 400 European stocks that are screened on a daily basis. The portfolio manager, Olivier Rufflet, is using a short-term trading horizon–ranging from a few days to several weeks–that is based on technical analysis. Mr. Rufflet’s track record trading European equity markets spans the past 15 years.