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Lumen Advisors Breaks US$100 Million Mark

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SAN FRANCISCO (–Lumen Advisors LLC raked in nearly US$40 million in new assets in March and the first few days of April to push its total assets under management to more than US$100 million.

Lumen started in February 2003 with US$20 million in seed money courtesy of London-based The Fortune Group’s emerging managers program (see Previous HedgeWorld Story). As of April 5, Lumen had roughly US$72.1 million in assets in an offshore fund, the Lumen Master Global Fund Ltd., US$13 million in the onshore Lumen Global Value Fund LP and US$18.1 million in a separate account, said chief financial officer Allan Foster.

Both the offshore and onshore funds are emerging markets funds that take long and short positions in emerging markets debt, equity and currencies. The separate account fund follows the same strategy, with some minor differences due mainly to compliance issues, Mr. Foster said.