New Emerging Markets Hedge Fund Emerges

November 15, 2002 ( - Simon Nocera, a former IMF economist and money manager at Soros Fund Management LLC, is set to launch a new emerging markets hedge fund, according to a news media announcement.

Scheduled for a February 1 debut in concert with the London-based Fortune Group, the Lumen Global Value Fund will rely on a strategy of exploiting emerging markets’ price inefficiencies by constructing a long and short globally diversified portfolio of emerging market debt, equities, and currencies, the announcement said.

The Lumen Global Value Fund is to be managed by a team of three investment professionals including Nocera. The team has a 10-year track record primarily in the long-only environment, but with extensive use of derivatives and synthetic shorts, according to the media announcement.

The Fortune Group is a hedge fund, which manages several funds of hedge funds.