Monument Launches New Hedge Fund

December 2, 2002 ( - Monument Securities has launched a new pan-European equities hedge fund, according to a Dow Jones report.

The Marcellus fund will select securities based on fundamental analysis and research and “strict risk-management measurers.”   The Fund will take long and short positions up to a net 20% bias in either direction.  

Grant Cullens, who previously managed over $500 million in assets at Swiss Bank Pictet et Cie, will manage the new fund, which will be run out of a newly created division at Monument called Monument Investment Management.   Monument said the Fund hopes to raise between $50 and $100 million dollars.

Trading will begin on December 2, 2002 for The Marcellus fund, which is listed on the Irish Stock Exchange.