The timing for Bloomberg Markets Magazine to name Ikos’ Elena Ambrosiadou the #4 best performing hedge fund manager of the year could not be better for her.
Earlier this year, Ambrosiadou was involved in a scandal that suggested that the fund was faltering after she and her husband, with whom she founded Ikos, divorced.
At the time, there was a brief scandal involving this woman, and some concern that Ambrosiadou fired a 12-person team too brashly.
A brief refresher of the story that came out this summer:
While Mr. Coward was skiing in the Alps in December 2008, Ms. Ambrosiadou fired the roughly 12-person London research team and a senior fund manager in Cyprus.
One of the twelve let go, Peter Ho, a longtime senior Ikos manager filed with the court that he was fired unfairly because “of increased and unbearable tension between her and Martin Coward.”
There was even a shot at her hedge fund, about how asset levels had dropped since the divorce.
Though the futures fund (the bulk of the firm’s assets) is up about 16%, and Ikos’s two other funds are up about 20% and 5.5%, the current asset level is around $1.95 billion, down from about $3.4 billion in 2007.
But now look at Ambrosiadou. She just smoked all but three hedge fund managers and took the #4 spot in the best-performing category for her $1.2 billion currency fund, Ikos FX, gaining 30.5% this year.
So much for the nay-sayers!
By the way, Ambrosiadou’s was the only currency fund that made the top 10 in Bloomberg’s list, but currency was a great market for another fund in 2010, too. Click here to check out FX Concepts >
Ambrosiadou started her career as a chemical engineer.
In the early '90s, while working in a non-finance career, Ambrosiadou created a programme to trade on foreign exchanges and put $100,000 into an account that would trade based on her design.
The fund increased 50% in two years.
Source: the Telegraph
In 1992, she quit her job (she had been the youngest senior exec ever at BP) and founded Ikos with her then-husband, Martin Coward.
'Ikos' means home in her native language, Greek.
Source: the Telegraph
Ambrosiadou is essentially the only female hedge fund manager that really keeps up with the big boys.
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