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

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR