Man Quant. Founds New Hedge Fund

Dec 4 2013 | 1:54pm ET

Richard Bateson, a former top executive at Man Group's flagship AHL strategy, has left the ailing firm to set up a hedge fund of his own.

Bateson's London Quantitative Investments has launched its maiden product, a multi-strategy non-trend vehicle. The new fund is called Multi-Strategy Certificates.

"Trend-following strategies have disappointed in recent years and many investors are now looking for an alternative," Bateson said. "LQI will provide attractive, high-liquidity strategies uncorrelated to traditional trend followers."

In addition to Bateson, a former physicist, LQI, which is based in Mayfair, also boasts Goldman Sachs veteran Jonathan Greenhalgh and Lehman Brothers veteran Patrick Coppens. Bateson formally left Man in March, just two months after he was moved from his post at the struggling AHL to a new role as senior quantitative analyst at Man's GLG Partners unit.

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