Cantab Capital Partners, the $4.7 billion systematic global macro manager led by former Goldman Sachs quantitative trader Ewan Kirk, has launched a new fund.
The CCP Core Macro Fund, which opens to external investors on Feb. 1, is designed to give investors “access to a diversified stream of macro-style returns at a fraction of standard industry fees as well as offer daily liquidity. It is expected to show negligible correlation to traditional sources of risk (equity and fixed income) and limited correlation to trend following strategies,” according to a company press release announcing the launch.
CCP says the fund is based on a multi-model, multi-asset approach offering investors access to “the momentum and value groups of models using the ensemble of risk management tools developed by Cantab’s team of scientists over the last six years.”
Kirk, also the firm's chief investment officer, said in a statement: "We are truly excited about this launch. We feel it gives investors access to much sought after macro style returns in a very cost effective format. We have seen more and more institutions investing in systematic macro as it is perhaps the only liquid investment style that exhibits negligible correlation to equity and bond markets over time. We are especially pleased we can address the specific needs of many institutional investors by offering this daily liquidity product at an exceptionally low cost. Our ability to offer a product like Core Macro to the market is a testament to our ability to leverage our investment in research, development and technology."
Cambridge, U.K.-based Cantab has posted two double-digit gains in a row, rising 15% last year and 13% in 2011.