Former Niederhoffer Protégé Launches Futures Strategy

Feb 22 2007 | 12:14pm ET

Peter Hansen, a former researcher and commodities software developer for famed trader Victor Niederhoffer, last month launched the Comprehensive Program, a systematic diversified futures strategy. The program, which is currently managing $11.5 million, returned 2.26% in its first month of trading.

“The Comprehensive Program combines 11 different systems; most of these are not trend-following systems like the ones used by most systematic futures traders,” Hansen says. “Our systems have average holding periods ranging from less than 24 hours to about two months.  Most of our contracts traded are in the very short-term systems, but once we adjust for longer-lasting exposure in longer-lasting trades, the picture is more balanced.  Nonetheless, we obviously lean to the short-term side compared to most of the industry.”

The program charges a 2% management and 25% performance fee, with a $2 million minimum investment requirement.

Hansen also manages the Managed Account Program, which employs the same trades at the same volumes as its sister comprehensive program. The only difference between the two programs is the inclusion of a currency system that Hansen recently developed, which is trading only in the comprehensive program.

The managed account program has achieved annualized returns of 7.97% since inception in April 1994. It is currently managing $19 million in assets.

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