Thursday, 2 April 2015
Last updated 12 hours ago
Sep 27 2011 | 1:38pm ET
"Black swan" hedge fund shop Universa Investments plans to launch a macro fund to profit from what it sees as mispriced options.
The Santa Monica, Calif.-based firm hopes to raise $1 billion for the new fund. Like Universa's other hedge funds, the Convex Macro Fund will be a convexity fund, seeking out trades with the potential for huge profits with minimal risk, Bloomberg News reports.
That strategy has helped the $6 billion firm's inflation funds soar 20% this month—and 35% this year. Universa bought up put options on gold—at prices that founder Mark Spitznagel told Bloomberg were "ridiculously low"—to profit from the recent drop in gold prices.
The Macro Fund will use the best ideas generated by Universa's investment partnerships, which seek out tail risks. It will invest primarily in index options, but will also put money into commodities, currencies, equities and other investments.
Universa is targeting both existing and potentially new investors for the Macro fund.
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…