Monument Investment Management, a division of Monument Securities, which recently launched its first hedge fund, is planning to hire derivatives savvy professionals in the next few months and will also launch additional hedge funds. Grant Cullens, cio in London, said he will mainly be hiring fund managers, but will also look to add traders. Once it has more staff, the fund manager will go ahead with plans to launch additional hedge funds. Cullens would not elaborate on the planned number of hires.
Although the first fund, called the Marcellus Fund, is a long-short equity strategy, Cullens said Monument will look at a range of investment vehicles for future funds, which could include convertible arbitrage. He added that Monument will not launch the new funds until late next year or early 2004.
