New long-short hedge fund with daily liquidity is launched by Chanos
By Matea Gucec
A new equity long/short hedge fund has been created by seasoned short-seller Jim Chanos in collaboration with London-based Green Ash Partners, according to a Bloomberg article. Chanos is best known for having revealed the Enron accounting crisis and making money from it.
The new fund began trading this month with around $20 million in internal capital, according to a business statement cited in the newspaper.
With almost three decades of experience trying to generate profits by largely betting on a decline in share prices, Chanos, who also had success shorting Wirecard AG, sees "overwhelming" prospects for the new fund to identify "overvaluation wherever the market excesses are."
The new fund, which complies with the UCITS Directive of the European Union, gives clients the freedom to enter and exit positions at any time.
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