Jupiter Asset Management has expanded its Liquid Alternatives business with the launch of Jupiter US Equity Long Short Sicav fund.
The fund is a sub-fund of the Jupiter Global fund Sicav and is headed by Darren Starr. The portfolio aims for a market-independent, absolute return over a period of three years.
It has a portfolio of approximately 40-60 shares and focuses on US-based companies that conduct most of their business in US. The fund holds both long and short positions. This provides flexibility against falling equity markets and seeks to reduce the correlation with broader stock market performance. In addition, the monthly volatility of the portfolio returns should be limited.
The fund’s net equity ratio is usually between plus and minus 25 percent of net exposure, while an average gross equity ratio of about 200 percent is expected.
As early as April of this year, hedge fund manager Darren Starr stepped up Jupiter’s growing liquid alternative business. Starr has more than 10 years’ experience in managing US equity portfolios with long-short positions and held various positions at UBS, SAC Global Investors and Caxton. From London, he works closely with the other Jupiter long-short and long-only equity portfolio managers.