Tuesday, 29 July 2014
Last updated 17 hours ago
May 11 2007 | 11:23am ET
It took a few months, but it looks like things are finally starting to turn around for Albany, N.Y.-based Fort Orange Capital Management. The CTA’s Global Strategic Program, a trend-following diversified trading system, last month was up 21%, nearly bringing its year-to-date numbers out of a red; it’s now down a more manageable -2.98.
The Global Strategic program, which trades over 75 futures markets globally, made its gains across the board in the metals and currencies sectors and stock indices, according to principal Daniel Byrnes. He attributed the program’s gains to its multi-faceted trading system. “Our trading style is a bit different in that although it is long-term trend following there’s a multi-component with a short-term trading, counter-trend and long-term strategies,” said Byrnes.
“The unique aspect of our long-term systems is that they’re designed to withstand a lot of market volatility meaning they don’t trade much even when there are significant moves against them. The situation with China in late February caused significant peak-to-valley open position losses in metals and stock indices and a lot of other sectors. All of these trends turned back around towards the end of March and into April and our systems rode those out as opposed to trading in and out of those situations.”
The program charges a 2% management fee and 20% performance fee, with a $1 million minimum investment requirement.
Byrnes, formerly with CCA Capital Management, founded Fort Orange in 1996. The firm currently manages $16 million.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…