Calif. Asset Manager Opens CTA

Nov 2 2007 | 11:14am ET

Irvine, Calif.-based Compak Asset Management has made the leap into alternatives with the launch of a commodity trading adviser.

Compak Alternatives Investments in June launched the Stock Index Option Writing Program with $2 million and has grown the product to some $9 million thanks to inflow from its asset management arm. The program, which primarily sells out-of-the-money options on the Standard & Poor’s 500 and Russell 2000 indices, is up 7.11% in its first four months of trading.

“We’ve been trading this strategy for a few years now but we institutionalized it as a CTA this June,’ said principal Javaid Ansari.

The program charges a 2.5% management fee and a 25% incentive fee. Its minimum investment requirement is $10,000.

Compak was founded in 1997 and currently manages some $750 million in total assets.


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