Thursday, 28 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...