London-based Zadig Asset Management may unveil a fund that will only profit from rising stocks, Bloomberg reports. The long-only Zadig Memnon Fund, which will initially start with €140 million, will purchase shares in about 30 companies and will be run by Laurent Saglio and Vincent Bourgeois.
The fund may acquire stocks, including Banco Bilbao Vizcaya Argentaria, the Spanish bank whose shares have fallen 15% in the past year, and the U.S. exchange operator, Nasdaq OMX Group. Zadig, which is manager of a €300 million hedge fund, may seek nearly €2.989 billion for the fund, which may beat the MSCI Europe Index, excluding U.K. companies, by 10% on average every year.
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