Saturday, 5 September 2015
Last updated 7 hours 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…