Global macro hedge fund manager Everest Capital launched a long-only version of its frontier markets equity strategy.
The new strategy uses a top-down macro fundamental approach to invest in equities in frontier and smaller emerging markets and a bottom-up process to identify regional trends and attractively valued companies with strong, sustainable cash flows, confirmed Armel Leslie, a spokesman.
Mr. Leslie said the long-only version was in response to a request from an institutional investor, whom he said he could not identify. Mr. Leslie also declined to say how much the institution invested in the strategy.
Everest manages $2 billion in developed, emerging and frontier market hedge funds.