Augustus Launches Offshore Long/Short Vehicle

Feb 6 2007 | 4:14pm ET

Harrison, N.Y.-based Augustus Advisors, a registered investment advisor and affiliate of Augustus Capital, an NASD broker-dealer, recently launched the Augustus MJK Offshore Fund, a Bahamas-domiciled version of its Augustus MJK (Domestic) Fund.
 
Like its onshore predecessor, the new offshore offering is a beta-neutral, highly-quantitative, global long/short equity fund that aggressively trades its core position on a short-term basis via technical analysis.  The firm's onshore vehicle, which launched in January 2005 with firm capital, returned 29.9% net in 2005 and 14.8% last year.
 
The new offshore offering charges 1.5% for management and 20% for performance, with a $500,000 minimum investment requirement, subject to manager discretion, monthly liquidity, and no lock-up.
 
The Augustus MJK Fund currently manages less than $10 million in assets and is just now reaching out to third-party marketers and strategic partners.  Third-party marketers are to be paid 1% annually on assets they bring into the fund.


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