Friday, 27 March 2015
Last updated 2 hours ago
Feb 28 2014 | 10:50am ET
IKOS Asset Management co-founder Martin Coward has begun accepting outside money for his quantitative hedge fund.
Coward’s Malta-based dormouse has been trading since July 2011 with the former Goldman Sachs trader’s own money and that of two other investors, who have not been identified. During most of that time, Coward has been battling his estranged wife, IKOS chief Elena Ambrosiadou in court; the two filed more than 40 lawsuits against each other in four countries, alleging spying, theft and all other manner of misdeeds.
The heart of the dispute, however, is IKOS’ proprietary trading software, which Coward says he created and which IKOS says he stole. Last year, a British judge found that IKOS owned the copyright on the software.
With that settled, Coward is ready to take on investors. He told Bloomberg News that dormouse, which currently manages US$270 million, hopes to grow to about US$1 billion within three years.
“We’re not expecting to be overwhelmed,” he said. “Obviously, it’s a difficult moment for” commodity trading advisers. “We want to keep it relatively small.”
Coward said that dormouse currently employs 10, but plans to double in size, and will open an office in London to house marketing employees and research analysts.
The firm returned 6% in the second half of 2011 and 18% in 2012, before losing 6% last year.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…