Ex-Superfunder Launches Hedge Fund

Dec 20 2012 | 9:45am ET

A veteran of retail managed-futures hedge fund Superfund has launched a managed futures fund of his own.

Aaron Smith's Pecora Capital is opening its doors to external investors, Reuters reports; Smith hopes to raise as much as $400 million for the quantitative vehicle, which will focus on currencies. Smith said the Swiss firm will differentiate itself by taking positions on macro events to determine how much each of its models is allocated.

For example, Smith said that Pecora is not favoring some currency pairs trades because of low volatility, instead increasing its exposure to counter-trend models. Among the fund's current trades is a short bet against Japan; Smith told Reuters that it is based on a "tactical view" on the country.

Smith served as a managing director at Superfund, spending time in both its U.S. and Singapore offices. Superfund's assets have fallen by almost half over the past two years, and its flagship strategy is down 8.2% this year.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

Securities and Exchange Commission Chair Mary Jo White will step down as chair of the nation’s Wall Street overseer in January, setting the stage for a potential conservative shift in the regulator’s leadership under the incoming Donald Trump administration.