Horizon Launches Cash Account For Emerging Managers

Jun 13 2013 | 10:38am ET

Chicago-based Horizon Cash Management has launched a product providing small and emerging fund managers with a safe alternative for cash balances in excess of margin requirements.

The Emerging Manager Fund Cash Account requires just $1 million for cash balances in excess of margin requirements, in contrast to the typical separate institutional cash management account requirement of $10 million or more.

Horizon recognized that emerging managers--including hedge funds--and other small funds need cash management outside of their Futures Commission Merchant accounts after witnessing what occurred during the recent implosions of MF Global and Peregrine Financial Group—excess cash left in those FCM accounts was held up in bankruptcy.

Diane Mix Birnberg, Horizon founder and chairman, said in a statement: “We saw that emerging managers need solutions for protecting customers assets, and we responded with a product idea whose time has come. Horizon is happy to assist new and smaller managed futures funds with a cash management account specifically created for these emerging managers and their investors.”

Horizon said the benefits of the new account include safety—cash balances cannot be encumbered in the account; liquidity—cash is available to meet margin and other cash needs; and income—Horizon provides active cash management.
 
Founded in 1991, Horizon Cash Management has approximately $2 billion in assets under management.


In Depth

Fund Focus: Wainscott Capital Bullish On Biotech

Nov 24 2014 | 9:25am ET

While many hedge funds suffered losses in October’s rough markets, one fund bucked...

Lifestyle

Cohen Buys $101 Million Sculpture

Nov 12 2014 | 9:17am ET

Steven Cohen was the sole bidder for a rare Alberto Giacometti sculpture at Sotheby...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.