Sunday, 29 March 2015
Last updated 2 days 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…