Spartan Launches New Version Of Global Equity Fund

Aug 26 2013 | 12:11pm ET

Toronto-based Spartan Fund Management has launched a higher-net version of its long-short global opportunities fund.

The Humber Global Opportunity Fund, managed by John Durfy and Rob Durfy, will typically have net market exposure of approximately 50% (plus or minus 25%).

The Humber Global Preservation Fund, with the original net market exposure of 15% (plus or minus 10%), will continue to be offered via managed accounts.

Both strategies target “consistent and attractive risk-adjusted returns, with an emphasis on capital preservation” through hedged equity exposure to  concentrated group of mid- and large-cap global developed-market companies.

Spartan aims to generate alpha on its long positions while using individual shorts to generat alpha and baskets of shorts to act as a hedge. Long and short positions will be established in companies based on attributes such as return on invested capital, balance sheet strength, barriers to entry, pricing power, growth of end-markets and valuations.

Said John Durfy, lead manager of Humber Global, in a statement:

“When the Humber Global Opportunity Fund was first launched, it was structured to appeal to institutional investors who wanted a low-net (i.e. low volatility) global fund in Canada. Since then, many retail investors have asked us to offer a global long/short fund with a higher targeted return. In response, we 'soft launched' a fund with a net exposure of ~50% and a slightly lower gross exposure than our original fund. The results from the April 15th inception through to the end of July have been in line with our expectations, with the new fund delivering an estimated return of 4.66% vs. the MSCI return of 3.11% while operating with a net position of ~47% and a beta of just 0.44.”

John Durfy was most recently managing director at the Ontario Municipal Employees Retirement System with responsibility for a $2 billion global equity portfolio. Prior to that he was responsible for co-managing a global long-short equity portfolio, as well as Canadian and global portfolios from $300 million to $10 billion.

Rob Durfy has been in senior equity analysis and associate portfolio management positions since 2001, focusing exclusively on global equities. He has advised on specific sectors of global and North American portfolios ranging from $500 million to $14 billion.

Established in 2006, Spartan specializes in experienced emerging Canadian alternative investment managers that have proven expertise within a well defined investment strategy.  Spartan offers both strategy specific funds as well as a multi-strategy fund.


In Depth

High Time For A Cannabis Hedge Fund?

Sep 30 2014 | 7:07am ET

Launching a hedge fund is always a gamble, but Leslie Bocskor's decision to launch...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this fight. The Citadel...

Guest Contributor

Appraisal Ratio Key To Evaluating Hedge Funds And Other New Investments

Sep 29 2014 | 3:07pm ET

As a former finance professor Peter Hecht experiences heartburn every time he hears...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

September 2014 Cover

High frequency market making

High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...

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.