Cornerstone Launches Offshore Global Macro Fund

Jun 2 2006 | 8:37pm ET

New York-based Cornerstone Capital Management has launched an offshore version of its Cornerstone Icon Fund, a global macro fund.

According to Felix Maye, president and co-founder of the firm, the offshore fund was launched as a result of demand from tax-exempt investors, including endowments and pension funds.

The new offering, domiciled in the Cayman Islands, aims to return 2-3% over the Standard & Poor's 500. The fund invests globally in currency, interest rate, stock index and energy sectors. It is being offered to both non-U.S. investors and U.S. tax-exempt investors.

"We anticipate healthy interest in this fund as the U.S. version boasts a 19-month track record of consistent returns with very few draw-downs," said Joseph Profit, ceo and chief trader at the firm.

Cornerstone was founded in 2004 and is based in New York. 


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...