Dredner Duo To Launch Hong Kong Managed Futures Fund

Mar 24 2011 | 1:40pm ET

A pair of former Dresdner Bank derivatives traders are set to launch an Asia-focused managed futures hedge fund.

Mathias Piardon and Frederic Levy's Noho Capital won an asset management license from the Hong Kong Securities and Futures Commission last week and will receive its first seed investment in the next few days, Reuters reports. The duo have been running their strategy using their own capital since August, and say they have enjoyed positive returns in five of seven months.

Among the strategies employed by the nascent firm are reversal, trend-following and deterministic. Expansion into other asset classes in the future is in the cards.

"What we are doing is purely systematic trading," Piardon, formerly head of Asia ex-Japan equity derivatives trading at Dresdner, told Reuters. "We have proprietary algorithms that we developed in the last two years."

Piardon and Levy, who was regional head of exotic equity trading at ABN Amro before his brief stint at Dresdner, say they hope to raise $40 million for the fund by the end of the year. Noho plans to hire a chief operating officer to assist with fundraising, but Piardon said he wanted to keep Noho's operations lean.

"We do not want 30 people," he said. "We like the boutique system where we can control everything."

Noho is currently looking for a prime broker. The firm plans to launch an off-shore fund with a US$100,000 minimum investment requirement.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note