Ex-Harvard Money Man Tops Benchmarks, Predicts Stronger '11

Jan 28 2011 | 11:48am ET

Convexity Capital Management, the hedge fund founded by former Harvard University endowment head Jack Meyer, managed to beat its benchmarks yet again despite an unfavorable market environment.

The $12.3 billion volatility specialist managed to best a group of market indices by 5% last year. In a letter to investors obtained by Bloomberg News, Meyer suggested that better things are to come this year.

"Continued stresses in Europe and in currencies globally could create opportunities across the board," he wrote. He said the firm was "quiet about our optimism, but don't think that it's not there."

Last year, by contrast, was "mediocre" in terms of opportunity, without the "irrational spreads" or "strange bumps in the forward curves" that Convexity thrives on, Meyer wrote.

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