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

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...