For regular readers of the UK comic magazine Private Eye, they have decided to launch one of the world's more interesting hedge funds.
Called the Curse of Lord Gnome Fund,
it will have £200 million of funding with annual returns expected to be
20% against volatility of 8% - 10%. The aim of the fund is to be very
much an activist investor in firms that have either sued or threatened
to sue the magazine.
Ian Hislop, editor of Private Eye
and also the fund manager says that, “By using a multi-strategy
approach, we believe the fund can significantly destabilise companies
we don’t like and at the same time make lots of dosh.”
Sounds like a good idea to me.
Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...
