High-Frequency Hedge Firm Offers First Hedge Fund

Apr 13 2011 | 1:12pm ET

A new hedge fund firm focused on high-frequency trading has launched its maiden offering.

Gibraltar-based HFT Capital Management's Evolution Growth Fund will do exactly what its general partners' name promises, making thousands of trades every day in the foreign exchange and futures markets. The fund, nearly four years in the works, is designed to be relatively low-risk, and trades will be made manually, meaning that HFT Capital will not be impacted by proposed new rules limiting automated flash trading.

Romy Jardine, the fund's chief investment officer, told HFMWeek that Evolution Growth was designed "as a client-focused ethical fund," featuring no lockup, a 6% performance fee hurdle, no management fee at all and redemptions with just one week's notice.

Evolution Growth also has a €100,000 minimum investment requirement. It has been seeded with internal capital, and has a €300 million capacity.

HFT plans to launch several other versions of the strategy, with varying risk levels, over the next few months.

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