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.