Wednesday, 1 April 2015
Last updated 8 hours ago
Mar 6 2012 | 1:21pm ET
The Gargoyle Group, a US options-trading hedge fund manager, has launched a fund it believes is a first: a market neutral fund hedged with a continually-monitored index options overlay.
Gargoyle says the fund employs many of the components of the proprietary methodology employed successfully by its flagship fund, the Gargoyle Hedged Value Fund, for the last 12 years.
The Gargoyle Group, in a statement announcing the fund launch, said it “seeks to produce alpha via both stock selection and cumulative excess premiums gained from the sale of overpriced call options.” The new fund’s underlying equity portfolio is chosen from the top 2,000 capitalized U.S.-listed companies while the options overlay portfolio “typically sells near-term call options on indexes highly correlated to the underlying stock portfolio.”
Gargoyle founders Josh Parker and Alan Salzbank say an index options-based hedge avoids the risk of individual equity positions being “called away” early before they have a chance to outperform and also eliminates many of the risks inherent in shorting “overvalued” equities as a hedge.
The Gargoyle Group specializes in sophisticated equity options strategies.
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…