New York-based hedge fund manager La Jolla Value Partners is considering selling covered calls in a bid to ramp up returns for its recently launched long/short equity hedge fund. Brian Pursley, fund manager in New York, explained that while the first focus of the fund is to up its assets under management, it currently has USD3 million, other over-the-counter instruments including calls will be considered where they present investment opportunities. Bear Stearns is the prime broker for the fund, but La Jolla will shop around to ensure best execution.
U.S. Hedge Fund Eyes Equity Calls
