US - Absolute return currency manager Hathersage Capital Management has hired former head of currency at Hermes Investment Management Momtchil Pojarliev.
Pojarliev will serve as director and senior portfolio manager in New York, a new position for the firm.
In an e-mail to GP, Pojarliev said his responsibilities will include developing trade ideas, executing trading strategies, monitoring markets and managing risks.
Most recently he lead the currency team at Hermes, the investment management arm of the BT Pension Scheme, and the largest corporate pension plan in the UK. Pojarliev has authored over 20 academic articles, including research on alpha and beta producing currency managers, Hathersage said in a release.
Hathersage founder and head of portfolio management Bill Lipschutz said: "Momtchil's experience and his work in the area of currency alpha measurement and production match well with our focus at Hathersage. We are confident that our investors will benefit greatly."
Pojarliev said: "I am also planning to continue some of my research to increase the transparency in currency management so that investors could benefit from this additional alpha source."
He added: "Both alpha and beta managers offer value for investors, but of course the price for alpha and beta should be different and investors should know in what they are investing. We need more transparency. For example, the events in 2008 showed that what investors had perceived to be uncorrelated alpha turned out to be equity beta."
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