Wednesday, 27 August 2014
Last updated 3 hours ago
Jun 22 2007 | 12:13pm ET
Patrick D’Angelo, a former U.S. equity prop trader for Dresdner Investment Bank, this month launched Hyerdale Capital, a market neutral long/short equity fund that has a short-term holding period of between two weeks and two months.
“It’s not one of these buy and hold type funds,” said D’Angelo. “It’s all fundamentally driven and technically backed. Seventy five percent of the portfolio is focused on large-cap stocks with the balance in micro- to mid-cap stocks. This portfolio is always dollar neutral and if anything I take a small short bias on a beta basis.”
In his second full week of trading, D’Angelo said he initiated short positions in the restaurant sector, specifically Bob Evans, a family restaurant chain and retail foods concern. D’Angelo’s long positions include Seagate Technology and Spirit Aerosystems. He said the fund is not limited to domestic and can invest in international names via ADRs.
D’Angelo, who launched the fund with his own capital, said he is currently talking to seeders and early stage investors to raise assets for the fund.
Hyerdale charges a 2% management fee and 20% performance fee, with a $1 million minimum investment requirement. It has a one-year lockup with quarterly withdrawals thereafter.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...