Lumina Launches Flagship Hedge Fund

Feb 17 2012 | 4:25am 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.


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