Empiritrage Gains 22.5% In First 5 Months

May 9 2013 | 8:43am ET

Cleveland-based Empiritrage’s new flagship Quantitative Value fund is doing what few hedge funds are doing these days: beating the S&P 500.

Since it launched in November with a $20.6 million investment from a New York-based fund of funds, the Empirical Quantitative Value Series II fund has returned 22.46%. Over the same five-month period, the S&P 500 has returned 14.43%.

EQV is based on the strategies developed by Wesley Gray, a University of Chicago Finance Ph.D. and an assistant professor of finance at Drexel University.

These strategies are implemented via a managed account platform and tax-managed. The funds are designed to outperform competitor systematic value systems while maintaining a high degree of tax efficiency. Empiritrage charges a 0.95% management fee and no performance fee.

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