Friday, 19 December 2014
Last updated 23 min ago
Aug 6 2007 | 11:55am ET
New York-based 3-Sigma Value Management recently launched its first hedge fund, a $6 million equity long/short vehicle.
The 3-Sigma Value Fund invests through an integrated process combining top-down analysis and bottom-up analysis, according to fund documents. It is focused on the technology, media and telecommunications, natural resources/energy, healthcare and distressed sectors.
The fund limits its gross exposure to 200% of equity while its net exposure generally ranges between 20% and 80%. It designates its long exposures as “core” and “non-core” with core positions limited to 10% of the portfolio and non-core positions at 5%. In addition, its short positions are limited to 5% of the portfolio.
Prior to launching the fund in March, co-founder Benjamin Weinger was managing the same strategy from August 2005 through February 2007 for a family office, returning 26% on an annualized basis since inception. Since launch, the fund is up some 11.6%.
The fund charges 2% for management and 20% for performance, with a $500,000 minimum investment requirement.
Michael Kass, a former vice president of the restructuring group at Lehman Brothers, and Kareen Mozes Laton, a former vice president in the private wealth management division of Goldman Sachs are the other founding partners.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.