Clinton Group Vets Found Global Macro Shop

May 20 2010 | 11:20am ET

A pair of Clinton Group alumni has founded a global macro hedge fund shop in New York, seeking out institutional investors for its debut fund.

Snowbridge Asset Management last month launched a global macro futures strategy with $6 million in a managed account and is currently canvassing the institutional landscape for like-minded investors.

The strategy, the brainchild of Steven Chung and Steve Moulding, is dubbed the Projective Trend program, a trend-following strategy with holding periods ranging from one to three months. The program's portfolio is comprised fixed-income, foreign exchange, equity index, and the energy, metal and agricultural sectors in North America, Europe and Asia and the Pacific Rim.

The program was up 0.58% last month, but is currently down over 1.5% month-to-date.
 
“We, like a lot of commodity trading advisors, have been long equities for a while and certainly that’s turning,” said Moulding. “The fixed-income trade has just been fantastic over the last year or so. May has been challenging and we’ve been inside of our targeted volatility of 80 basis points a day but the volatility has certainly been picking up.” 

While the pair is currently accepting managed accounts, they may offer the strategy in the form of a fund within the next year. As well, the systematic traders are also looking into offering investors their own high frequency strategy to investors who are currently smitten with intra-day trading.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

A Hard Look At Your ‘Soft’ Hedge Fund Marketing Information

Dec 8 2016 | 9:03pm ET

Conventional wisdom holds that due diligence examines quantitative as well as qualitative...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR