Saturday, 26 July 2014
Last updated 16 hours 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…