UBS Prop. Desk To Become Hedge Fund

Feb 27 2012 | 1:44pm ET

UBS is set to spin-off a macro proprietary trading group as an independent hedge fund under one of its top executives in Australia.

MST Capital will split from the Swiss bank next month. The new firm will be led by Gerard Satur, formerly head of securities in Australia and equity trading in the U.S. at UBS.

"We're spinning out of the best investment bank in Australia," Satur told Bloomberg News. "We have a very experienced investment team across all asset classes."

Satur, now chief investment officer for macro strategic trading, will employ a macro strategy in his new firm. Sydney-based MST hopes to raise as much as A$500 million (US$535 million) for the new vehicle, and is targeting annualized returns of 10% to 15%.

MST's team includes Jeremy Hooper, formerly of Morgan Stanley, and Matthew Mulcahy, formerly of Pacific Investment Management Co. Both men currently work at UBS' investment bank.


In Depth

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

Concerned About Your HFT Exposure? Hedge It!

Mar 26 2015 | 1:06pm ET

High-frequency trading has been a persistent storyline for several years. The trading...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs 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…

Editor's Note