Sunday, 29 March 2015
Last updated 1 day 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…