Minard to leave Cogo Wolf
February 16, 2010
Rachel Minard, president of San Francisco-based Cogo Wolf Asset Management, is leaving the troubled fund of funds.
Rachel Minard
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Rachel Minard has resigned from her role as president of beleaguered fund of funds firm Cogo Wolf Asset Management. The firm suffered losses in 2008 and through mid-2009 and had failed to increase assets during her stay. Her time at the San Francisco-based firm was short; she joined in July 2008 in an effort to secure more institutional capital.
Instead of raising capital, the firm’s assets appear to have declined as a result of poor performance. The firm’s assets stood at $80 million in April 2009. That was down from about $100 million in November 2008, of which $75 million was managed by the Cogo Wolf Global Strategy Fund and $25 million in managed accounts. As of June 2009, the Global Strategy Fund managed $58 million, having lost 30.25% in 2008 and 0.37% through August 2009, the last month for which the fund reported its returns to the InvestHedge database. Cogo Wolf did not return calls seeking comment.
Prior to Cogo Wolf, Minard worked at Corbin Capital Partners as director of global marketing. At Corbin, she helped build assets under management to $4 billion from $600 million in three years. Before Corbin, she was director of marketing at fund of funds Cadogan Management, also for three years.
Minard’s future plans could not be determined. Minard declined to comment, and an external spokeswoman was not immediately available for comment.
—Suzy Kenly