QuantZ Funds Slip Slightly In Q1

Apr 22 2014 | 8:50am ET

Milind Sharma's QuantZ Capital Management is off to a slow start in 2014.

The firm's Quark Equity Market Neutral fund was down 1.2% in the first quarter as was its new Quasar Equity Long Short fund.

“Given the no vol/low vol/low dispersion environment, there was no alpha to report of amongst quant models in Q1 through Quark and, to the extent that equity indices finished Q1 flattish, there was no benefit to accrue in Quasar ELS from directional exposure either, with both funds ending flat (gross) and slightly down net of fees/expenses," wrote the firm.

While admitting EMN funds have been out of favor the past couple of years, QuantZ argued they've done "extremely well" compared to peers and indices and particularly against prominent EMN funds that have liquidated due to poor performance—including Goldman Sachs' Global Alpha fund and Tudor Investment Corp.'s Tensor Fund

Quark EMN was up 4.28% in 2013. Quasar ELS, which went live in January 2014, has identical stock selection to Quark EMN but with "dynamic beta."


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