Thursday, 3 September 2015
Last updated 1 hour ago
Feb 17 2012 | 3:25am ET
Almost five years after first offering the strategy to investors, Lumina Fund Management has launched its flagship as a hedge fund.
The firm unveiled Lumina Partners this month with $25.3 million in initial assets, HFMWeek reports. Lumina has run the equity long/short strategy as a separately managed account product since 2007.
The strategy relies on fundamental, quantitative and behavioral bases to invest both in liquid stocks and equity derivatives. It returned 5.3% last year, 11.4% in 2010 and 35.6% in 2009.
The initial capital for the fund came from both outside investors and New York-based Lumina itself. The strategy will remain available as a managed account.
Lumina Partners has a $1 billion capacity and a $1 million minimum investment requirement. It charges 2% for management and 20% for performance, with no lockup and quarterly liquidity.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…