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.


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of