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. 


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...