Blue Bell, PA-based wealth management shop Persimmon Capital Management has launched its first mutual fund, Persimmon Long/Short Fund (LSEAX), a multi-advisor mutual fund that employs long/short equity strategies. The fund started trading with $25 million of assets under management.
LSEAX launched with six sub-advisors including: M.A. Weatherbie & Co., Sonica Capital, Open Field Capital, Caerus Global Investors, Turner Investments and ISF Management. The fund is distributed by Northern Lights Distributors.
LSEAX’s three portfolio managers include Greg Horn, Persimmon’s founder, Todd Dawes, partner and Shawn Gibson, partner at Persimmon. “Our experience strongly suggests that long/short equity can be a compelling complement or alternative to traditional equities in an asset allocation model,” stated Horn.
“Short selling has the ability to offer a return source and risk management tool that is unavailable to long-only equity managers.”
Horn founded Persimmon Capital in December of 1998 to provide investment consulting services to family offices, high net worth families, foundations and endowments.
