17
June
Hedge Fund Starts Hyperinflation Bet After Black Swan
17 June 2009 Bloomberg.com
36 South Investment Managers Ltd., whose Black Swan Fund gained 234 percent in 2008, is raising money for a new hedge fund, betting that government efforts to pump money into economies could result in hyperinflation.
The Excelsior Fund targets returns that will be five times the average annual rate of inflation of the Group of Five economies -- France, Germany, Japan, the U.K. and the U.S. -- should the rate exceed 5 percent, Jerry Haworth, co-founder of the firm, said yesterday. Raising $100 million for the fund would be a “good” amount, he said.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aku06Rgam3n0
