GSA Launches Managed Futures Fund With $110M

Jun 29 2011 | 11:05am ET

GSA Capital Partners has made a new quantitative managed futures fund a part of its comeback plans.

The London-based firm, which manages more than US$1 billion, launched the vehicle last month. The GSA Quantitative Futures Fund debuted with $110 million in assets under management and returned 0.07% during its first month, HFMWeek reports.

The new fund invests in more than 70 liquid futures contracts on over 20 global exchanges, as well as in currency forwards and the most liquid stocks trading in Europe and North America.

The launch of the multi-strategy managed futures fund comes a year after CEO Joseph Novarro resigned amidst disagreements with founder Jonathan Hiscock. GSA, which was spun out from Deutsche Bank six years ago, once managed US$2.5 billion but was inundated with redemptions in 2008 and has struggled to rebuild its assets under management since then.

The Quantitative fund charges 2% for management and 20% for performance, and features a $1 million minimum investment requirement.

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