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  • January 16, 2018
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    New Small-Cap Value Firm Boasts Unique Stock Selection Model

    February 1, 2006

    Every new firm entering the asset management space boasts a new strategy or investment philosophy that promises to make investors money. Elessar Investment Management, a new small-cap value firm, is no different. Only this firm has the data to prove it.

    Founded at the beginning of the year, Elessar utilizes a stock selection model developed by CIO Richard Giesen, a former portfolio manager at National City and Munder Capital Management. The model, known as Quality at an Acceptable Price Model (QAPM), has already been back tested over the past 10 years and its stock selection method has been quantified by a study conducted by Prudential Equity Group that compared the QAPM average excess returns versus the Russell 2000 Value Index. The study found that the most undervalued small-cap companies ($150 million-$ 2 billion) consistently generated the highest alpha on almost a one-to-one correlation. Simply put, the firm&#39s equity investment process focuses on companies that possess the best quality, measured by a company&#39s historical return on capital, at the lowest possible cost, measured by a company&#39s current stock price-to-book valuation. The firm has applied for trademark protection for the model.
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    DFG Capital Wants To Bring Alternatives To D.C., African-Americans

    February 1, 2006

    DFG Capital Management has recently launched a managed futures fund aimed at bringing alternative investments to both the Washington D.C. area and the African- American community.

    “Historically, African Americans invest less than non-minorities, and African- Americans aren&#39t familiar at all with alternative investments,” said Ray Yzer, founder and ceo of DFG Capital.
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    Woman-owned Fund-of-Hedge Funds Opens To Outside Investors

    February 1, 2006

    Reservoir Investment Partners has recently opened up its Reservoir Fund, a multi-strategy fund-of-hedge funds launched in April of last year, to outside investors. Kelly Gasink, portfolio manager of the fund, said she is targeting high-net-worth individuals and family offices, but that she is seeing interest from institutional investors who have a mandate to hire women- and minority-owned management firms.

    “One of the most startling lessons I have learned is how few women there are in this industry,” said Gasink, who is based in San Francisco. But she doesn&#39t think that she has been treated differently because she is a woman. “The industry is based on a meritocracy, and I haven&#39t had any problems because of my gender,” she said, though she would like to see more women enter the hedge fund space.
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    Clearwater Launches Multi-Strategy Hedge Fund Focusing On Asia

    February 1, 2006

    Clearwater Asset Management has launched a multi-strategy hedge fund that combines its domestic active long/short strategy and its global long/short strategy, which is focused on emerging Asian economies.

    Clearwater Capital Partners II will be managed by Jamie Atkins, ceo and cio of the firm.
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