Citi Closes Quantitative Hedge Fund

Jun 2 2011 | 3:31pm ET

Citigroup has shuttered an internal quantitative hedge fund as the bank continues to slough off proprietary trading operations.

Citi closed its Quantitative Strategies fund in April, after naming fund manager Shakil Ahmed head of electronic market-making, Bloomberg News reports. The fund managed $400 million, all of it internal capital.

The bank did not disclose the fund's performance. Citi, like other banks, is in the process of coming into compliance with the Dodd-Frank financial regulation law, which bars proprietary trading.

Ahmed, who also serves as co-head of electronic trading, has been with Citi since 2008. He joined the firm from Morgan Stanley's quantitative prop. trading desk, the process-driven trading group.

Morgan Stanley is in the process of spinning off PDT as an independent hedge fund, a deal that show close by the end of next year.


In Depth

Q&A: MackeyRMS's Chris Mackey On A High Tech Fix To Broker Votes

Jun 23 2017 | 8:17pm ET

The looming implementation of the EU’s MiFID II rules regarding research has put...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 
Error

From the current issue of