Monday, 2 March 2015
Last updated 56 min ago
Mar 14 2012 | 2:36pm ET
The Man Group has launched a quantitative commodities hedge fund with a capacity of $5 billion.
The new fund, part of Man's year-old Systematic Strategies unit, is managed by Scott Kerson. Kerson is a former trader at commodities hedge fund giant Ospraie Management and the infamous Amaranth Advisors.
Kerson employs "hedge fund techniques, but in a long-only product," MSS chief Sandy Rattray told Financial News. The fund aims to control drawdowns "and reduce them by about 20% compared to other passive commodity products," using algorithms Man has been building for 18 months.
Some of that technology comes from Man's flagship AHL strategy and is designed to quickly respond to volatility in the commodities markets.
Man has seeded the new fund with $50 million.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…