Robinson opens up Altana Distressed Assets Fund
From Product News Feb 23 2012 BY: Esther Armstrong
, Senior Reporter
, Portfolio Adviser
New investment management firm Altana Wealth is opening its Altana Distressed Assets Fund (ADAF), run by founder and CIO of the firm Lee Robinson, to outside investors.
Robinson was previously at Trafalgar Asset Managers and has seeded all three funds at Altana Wealth, which was authorised by the FSA in April last year.
He has a 14-year audited track record and has personally invested over $20m of his own money in ADAF.
Robinson said: "ADAF aims to protect investor capital by profiting from unloved, or distressed assets that are in forced selling situations, fundamentally undervalued or trading at low multiples of mid-cycle earnings. Given that the lowest multiples are currently in Europe and the continent is entering a seismic economic change, I would initially expect European corporates to form the bulk of the portfolio."
According to the company, Robinson has over a 10-year period "one of the best audited trading histories in finance, making over 300% during that period".
Robinson added: "Market volatility has been and will continue to be high, particularly as the recession worsens and defaults begin. We will be opportunistic so at times we may be long cash and at times 200% gross. ADAF will invest in a diversified portfolio of equities and distressed bonds in companies, which we believe have strong long-term prospects but that are short term out of favour.
"Although I am bearish about current economic conditions, I believe there are great opportunities to invest now. So you could categorise me as bearish, but with bullish outcomes."
The strategy of the fund is to protect investors' wealth and it will have monthly liquidity, or weekly for an additional fee.
It is available in dollar, euro and sterling share classes and has an investment minimum of $100,000.