Wednesday, 30 July 2014
Last updated 12 hours ago
Jan 8 2010 | 12:28pm ET
Jersey City, N.J.-based hedge fund firm Osiris Partners has closed out its first year of trading with staggering returns. The firm’s flagship fund was up 273.24% net of fees in 2009, which is more then 10 times the return of the S&P 500 which was up 26.47% for the year.
“For this group’s first year I couldn’t be happier, especially as it pertains to our investors. The goal of this fund is to provide real opportunity to the masses,” Michael Spak, one of the four senior members of the management team, told FINalternatives. “That was the reason for putting this whole thing together. Our commitment will continue to be to deliver great returns on a consistent basis while always focusing on immunizing the volatility of the portfolio.”
The hedge fund firm has $7.7 million in assets under management, most of which is partner money. The fund only opened up to outside investors last month.
Spak said the firm provides complete transparency to its investors, including monthly statements, and has great liquidity and the ability for clients to receive monthly disbursements.
“When we decided to go against the grain of the hedge fund industry and create a fund for all, not just the millionaire and billionaire clients, I knew in my head and my heart it was the right business model,” said Spak. “In just the last 4-6 weeks hearing that other players such as Black Rock are opening up fund of funds where investors can get involved with hedge funds for as little as $50,000 just really was the validation that we needed to know that this absolutely was the right thing to be doing.”
Spak said the firm is also in the process of setting up a legal structure that will allow overseas investors to participate in the fund.
The fund utilizes a propriety algorithmic trading strategy, taking long and short positions in order to take advantage of short-term dislocations in valuations due to market- or stock-specific events.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…