Thursday, 23 October 2014
Last updated 23 min ago
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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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