Friday, 1 August 2014
Last updated 14 hours ago
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.
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…