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Auda hires Kite managers, integrates Kite products into Auda hedge13/08/2008. Source: AltAssets. 
 Auda International has appointed George Chacko as CIO of Auda Hedge. Chacko joins Auda from Kite Partners, a hedge fund and fund of funds investment manager, where he served as managing partner and CIO. Karl Neumar, who worked with Chacko at Kite, is also joining Auda Hedge, as a vice president. The products of Kite will be integrated into Auda Hedge and continue to be managed by Chacko.
Prior to founding Kite, Chacko was a managing director of pension asset management at Integrated Finance. He also spent two years at State Street Bank, where he was managing director of fixed income sales and trading. From 1997 to 2006, he served as a professor in the finance department at Harvard Business School.
Auda CEO Ernest Boles said, 'We have found that many sophisticated asset allocators are shifting their resources from multi-strategy managers to advisors that offer specialised products and customised investment solutions. When I joined Auda, one of my primary objectives was to better align our investment products with the evolving needs of our clients. George Chacko brings to our firm a highly successful, quantitative, liquidity risk-driven investment approach, which, when married with Auda's well-established, qualitative research practice, will create the strong foundation we need to meet our clients' investment objectives.'
In a related announcement, Boles said that B Scott Reid, managing director, would assume the newly-created position of global head of investor relations for Auda's hedge fund and private equity businesses.
Auda currently has assets under management of approximately $5bn. It employs 80 professionals worldwide with offices in the US, Europe, Asia and the Caribbean.
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