Long/short fund by ex-Merrill manager

Former Merrill Lynch US fund manager Chip Skinner is to launch a hedge fund on 1 July.

The Accrete Capital Opportunities fund will be a long/short equity portfolio invested primarily in US smaller companies. Skinner will replicate the bottom-up style he used successfully at Merrills and is targeting an asset split of 30-50 stocks on the long side and 30-60 on the short side. Maximum exposure on any one stock is restricted to 6% on the long side and 3% on the short side, with a 20% limit on i