Thursday, 28 August 2014
Last updated 6 hours ago
Mar 13 2013 | 1:45pm ET
Pioneering equity-derivatives trader Mike Belbeck is set to launch a volatility arbitrage hedge fund next month.
Belbeck's Holworthy Capital's maiden, eponymous fund is set to debut on April 1 with about $10 million in initial capital, Hedge Fund Alert reports. Belbeck has told investors that the strategy is designed to profit in most market environments—even those with little turnover.
Belbeck's funds at Vicis Capital and Paloma Partners' Sunrise Partners unit enjoyed average annual returns of 9.8% from 2007 until 2011, when he left Paloma. He started his career at Citadel Investment Group as an intern, before helping set up Credit Suisse's equity-derivatives desk in the late 1990s. An early adopter of volatility swaps and other derivatives, he has worked on both the equity derivatives buyside and sellside. He worked at Deutsche Bank before joining Vicis, and then Paloma in 2010.
Holworthy, named for Belbeck's Harvard University dormitory, features two other investment professionals, chief operating and technology officers and a head of software development.
Holworthy investors can choose to pay a 1% management fee, in exchange for a one-year lockup and quarterly liquidity, or a 1.5% fee if they desire only a six-month lockup and monthly liquidity. The performance fee for both is 20%.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...