Tuesday, 2 September 2014
Last updated 3 days ago
Mar 7 2007 | 10:24am ET
U.K.-based Addax Capital last month launched its maiden fund, the Addax FX1 Fund, an Irish-domiciled and listed global currency fund. The new offering boasted more than €17 million (US$22.3 million) in assets under management and finished its first months of trading up 0.54%.
The fund employs a model-driven mechanical trading strategy focusing on short-term trends in the currency markets, according to fund documents. Its entry and exit points, as well as risk parameters and stop-loss levels, are also determined by the trading model, which generates signals across all major currency pairs.
The funds charges a 2% management fee and 20% performance fee, with a €250,000 (US$327,600) minmum investment requirement.
Going forward, the firm says it will roll out more aggressive products. “For example, we have plans for a more aggressive fund using exactly the same technical model and trading techniques as the FX1 Fund, but using more leverage,” said Gavin Taylor, Addax’s CFO. “This will be aimed at investors with a higher risk appetite. There are also plans to roll out our existing trading model and strategy into other products.”
Co-founder Federico Grego, a former foreign exchange trader with Dresdner Bank and HSBC Markets in New York, is the fund’s portfolio manager.
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 ...