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Eclectica Asset Management
Hugh Hendry was born in 1969 in Glasgow, Scotland. He graduated from Strathclyde University in 1990 with a Business Administration in Economics and Finance. Hendry’s career started in 1991 when at the age of 22 when started work at the prestigious Edinburgh asset management company Baillie Gifford. According to Hugh Hendry he was hired only because institutional investors instructed the asset management company to hire more working-class employees. After that he worked at Credit Suisse and in 1999 he joined Odey Asset Management run by the high-profile London-based hedge fund manager Crispin Odey. At Odey Asset Management he managed several funds including the award winning Odey Continental European Fund that was long only European fund and had more than $1 billion assets. He also learned there the art of momentum investing. Hendry’s total experience with the three mentioned firms is 14 years. In 2005, he left and together with his colleague Simon Batten and all his industry experience founded Eclectica Asset Management. The fund was purchased out of Odey Asset Management’s firm and was renamed to Eclectica Asset Management. Today Hugh Hendry is founder, partner, CIO and CEO of the hedge fund. He is the chief portfolio manager and is in charge with both the investments and the research group. Given his extensive experience he has mastered the multi-manager method that many hedge fund companies are using nowadays. Identical to the approach of Odey Asset Management, Mr. Hendry believes that it must be absolutely normal to have both funds that are long only and focused on retail investors and hedge funds. He also argues for long only strategies to be used and marketed like hedge funds, although they usually lack a short strategy. In order to do so, however, the hedge fund managers must do some special things. He states that it is less about how the fund is structured and more about the people behind the fund. According to Hugh Hendry, in the 1970s, hedge fund heads were considered strange and diffident people. Same as back in the 1970s, in today’s environment it is essential that hedge fund managers have original ideas and are intelligent. That in his opinion translates into a good performance and overall success. Hugh Hendry is also well-known for his contrarian views and unlike many of his competitors who stay in mystery; he is very open to the public. Hendry regularly gives interviews, participates on TV programs and conferences. He is not only hedge fund manager but also a financial commentator and successful international investor.
Personal Info
Age – 43 Years old
Career Duration and Experience – 21 Years
Current Service – Eclectica Asset Management
Eclectica Asset Management’s Age – 7 Years
The hedge fund was founded in 2005 and manages US$700 million.
Investment Principles – Invests Based on Macro Views. He follows a macro approach and tries to predict unpredictable events in advance and position his fund to profit. He is looking for asymmetric bets that offer extraordinary reward/risk rations. Hugh Hendry has also stated that in his firm people work more as time investors and not value or growth investors.
Notable Achievements:
- In 2010 Hugh Hendry has named "the most high-profile Scottish in the controversial Hedge Fund sector."
- He achieved a 31.2% *positive* return in 2008 and not only he protected his clients money during the financial crisis but he also profited from it. On average other hedge funds fell by over 18%.
- He was featured on Financial News's list of the 100 most remarkable people in European capital markets.
Age – 43 Years old
Career Duration and Experience – 21 Years
Current Service – Eclectica Asset Management
Eclectica Asset Management’s Age – 7 Years
The hedge fund was founded in 2005 and manages US$700 million.
Investment Principles – Invests Based on Macro Views. He follows a macro approach and tries to predict unpredictable events in advance and position his fund to profit. He is looking for asymmetric bets that offer extraordinary reward/risk rations. Hugh Hendry has also stated that in his firm people work more as time investors and not value or growth investors.
Notable Achievements:
- In 2010 Hugh Hendry has named "the most high-profile Scottish in the controversial Hedge Fund sector."
- He achieved a 31.2% *positive* return in 2008 and not only he protected his clients money during the financial crisis but he also profited from it. On average other hedge funds fell by over 18%.
- He was featured on Financial News's list of the 100 most remarkable people in European capital markets.
Eclectica Asset Management was established in 2005 by Hugh Hendry. The fund is based in London, UK, currently has US$700+ million assets under management and 14 employees. The fund offers assets management for institutional investors (including corporations, foundations, endowments and pensions), funds of hedge funds, family offices and high-net-worth individuals. The minimum investment in Eclectica Fund is US$100,000. This is the minimum to start an investment with their main Eclectica Fund that usually invests in diverse asset classes such as; equities, commodities futures, currencies, options and fixed income. Eclectica Asset Management also offers an agriculture fund created specially to benefit from the boom of the commodities called Eclectica Agriculture Fund. It invests mainly in agriculture equities and is allowed to invest up to 10% in commodities futures. The minimum investment in the agriculture fund is US$5,000. Hugh Hendry also offers the Eclectica Absolute Macro Fund where the minimum stands again at US$5,000. Eclectica Asset Management also offer the CF Eclectica Continental European Fund which invests in stocks in EU but without UK, and CF Eclectica Europen Fund which invests in European stocks. The most recent fund that Hugh Hendry started is the Eclectica Credit Fund . The fund’s main mission is to bet on a China hard landing and slowdown and a worsening sovereign debt crisis. It is a leveraged fund that has asymmetric bets where the risk-adjusted-return is out of norm.
Website – eclectica-am.com
Address – 6 Salem Road, W2 4BU, London, UK
Website – eclectica-am.com
Address – 6 Salem Road, W2 4BU, London, UK
Recently Steven Drobny the author of the book “Invisible Hands: Top Hedge Fund Traders on Bubbles, Crashes, and Real Money” revealed that the anonymous “Plasticine Man” featured in the book is in fact Hugh Hendry. So if you want to read more about Mr. Hendry, you can get that book.
The Hugh Hendry’s book list is short because there is only one book that he publicly mentioned.
According to NYT, Hugh Hendry again amazes the world by picking a strange book as his top choice for an investment book. The greatest investment good of all time in his view is the book “The Gap in the Curain” a 1932 novel book written by John Buchan. This book taught Mr. Hendry how to see the future without missing details on what causes it. He points out that a common mistake investors make is to neglect the details and factors during an investment journey. This book probably will come in handy to value investors for their macro analysis.
