Saturday, 25 April 2015
Last updated 17 hours ago
Apr 30 2013 | 1:03pm ET
Hedge fund 36 South Capital Advisors has launched U.S. pension-friendly versions of its flagship volatility strategy.
The London-based firm rolled out versions of the Kohinoor Core Fund and Kohinoor Series III fund that comply with the U.S. Employee Retirement Income Security Act, Hedge Funds Review reports, opening the strategy to pension funds and other tax-exempt U.S. investors. Prior to the launch of the Cayman Islands-domiciled vehicles, the strategy was available only onshore, domiciled in Ireland.
Kohinoor Core invests in long-dated commodity, stock, rate and foreign-exchange options, seeking to offer tail-risk protection. Series III invests 30% of its assets in the Core Fund and the rest in U.S. Treasury bills. While both new funds will follow the onshore funds' strategy, 36 South warns that there could be some divergence in performance due to their structural differences.
"Our fund's correlation tends towards minus one in systemic risk events," firm founder Richard Haworth said. "We tend to do better and better the more volatile financial markets become whereas in these times, most traditional assets are correlating to one and all are doing as bad as each other."
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…