For Clemente, resigning as the sub-advisor to the Citizen's fund just made sense, said Alfredo Viegas, managing director of Clemente. Viegas, a hedge fund manager and the former manager of the Lexington Emerging Market Fund signed on this past July to lead Clemente's entrance into the non-U.S. hedge fund business.

According to Viegas, Citizens followed inconsistent social policies and wanted to retain the fund's growth stock bias despite Clemente's desire to move into value stocks; the area of the market where Clemente saw the most opportunity.

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