The logic by which financial companies choose a new name or brand sometimes goes over GoldFinger’s head. The re-naming of a London fund management firm caused a few raised eyebrows in the office yesterday.

Ambix Capital, described in a press release as being one of “Europe's pre-eminent long-only fund managers based in London” is to rename itself as Nemesis Asset Management, taking the same brand name as its umbrella company Nemesis SAM based in Monaco. The rebrand follows Nemesis SAM’s original strategy when it acquired 100 per cent of Ambix Capital from Lehman Brothers following the bank’s collapse.

Classicists among our readers will know that in Greek mythology, nemesis comes after hubris. And there has been a lot of hubris around in the past few years as stock markets soared, boosted, arguably, by unwisely cheap credit and a blithe assumption that the golden years could never end.

According to my copy of the Oxford English Dictionary, nemesis is “the inescapable agent of someone’s downfall, especially when deserved”. GoldFinger is not certain whether any of Nemesis Asset Management’s clients will find this terribly reassuring.

Pier Alberto Furno, chief executive of Nemesis SAM, explains the name change: "We want to consolidate our name and strengthen our image as one Group under one name: Nemesis. The word, which has Greek roots meaning "to give what is due" illustrates our commitment to our clients: investment process, high level of service, transparency and visibility.”

Nemesis, which already manages four value-based long-only equity funds, is in the process of launching credit funds in the next few months, following the appointment of Marco Sticchi as Head of Fixed Income last month. Anyway, whatever one thinks of the new name, GoldFinger wishes the firm the best of luck.