Global hedge fund manager CQS says it is launching a new hedge fund named the CQS Credit Long Short Fund. The fund will begin in April with $100 million under management.
The CIO of the fund is Simon Finch, and there will be five people in total working in the portfolio management team, supported by a 15-person research and back office team.
CQS says that it perceives wider spreads and increased spread dispersion, especially in single name credits, and that is thanks to the volatility in credit markets. Michael Hintze, the founder and still head honcho of CQS, says that he expects volatility to continue, giving the chance for high returns on low leverage.
The fund targets net annual returns in excess of 15% and will provide monthly liquidity.
CQS has an office in Hong Kong headed by Brian Pohli, and has a total of $6.5 billion of assets under management. The CQS Global Volatility Fund was launched late last year, joining a stable that includes the CQS Asia Fund and their flagship CQS fund.