Zadig Plans to Start Long-Only Fund on Bet Stocks to Rebound
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Zadig Asset Management LLP, manager of a 300 million-euro ($412 million) hedge fund, plans a fund that will only profit from rising stocks after equities fell to the cheapest relative to earnings in 20 years.
The long-only Zadig Memnon Fund, which will start tomorrow with 140 million euros, will buy shares in no more than 30 companies, Pierre Philippon, a managing partner at London-based Zadig, said in a telephone interview. A sell-off by insurers and pension funds is making stocks more attractive, he said.