Tuesday, 1 December 2015
Last updated 9 hours ago
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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…