Sunday, 19 April 2015
Last updated 19 hours ago
Feb 14 2007 | 1:02pm ET
Resolute Capital Growth, a British Virgin Islands-based foreign exchange futures fund, is looking for third-party marketers to jumpstart the vehicle, expected to launch next month with about $10 million in assets.
The fund invests in forex and futures using arbitrage techniques, taking into consideration three major markets: spot currencies, currencies futures and LIBOR interest rates futures, and analyzes the reaction and correlation of these markets by following the changes in the LIBOR interest rate trend, according to firm documents.
Interest rate movements trigger the fund's trade entry in the futures and spot markets, and the positions are kept open for several months, enabling the fund to "extract a maximum benefit from long-term interest rate fluctuations," acccording to the firm.
A group of directors including Benedicta Samuels, a BVI native and principal of the legal practice of Samuels Richardson & Co., Carlo Scevola, a CTA and founder of international consulting firm Carlo Scevola & Partners, and Ivan Marandola, vice president of Carlo Scevola & Partners and an economic advisor to the Zambian government, licensed the fund in August 2006. Scevola established the investment strategies for the fund, which is utilizing U.K.-based Westminster Capital Management as its investment advisor.
The new offering charges a 2% management and 25% performance fee, with a US$100,000 minimum investment requirement.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…