Monday, 24 November 2014
Last updated 1 hour ago
Jun 30 2006 | 6:15pm ET
Alternative Trading Capital Management is stepping up its marketing efforts in an attempt to attract more alternative investment firms as clients.
"We're targeting small hedge funds," said Vaughn Townsend, a principal at the firm. "If they have enough capital and they are interested in diversifying, Peter [Bokma] can handle all of their [Forex] trading needs."
Townsend teamed up with Bokma 19 months ago to launch ATCM, and since that time the two been working on building up a track record. Thus far the firm has seen gains averaging 5% per month after fees, which are 30% of profits.
"[Bokma] understands the fundamentals and the technical side of the market," said Townsend. "He comes from inside the banking world." Bokma has spent 28 years trading foreign exchange, including managing money for Banc of America, Chase and BNP Paribas.
The firm, which trades in 15 different currencies, now has approximately $6 million in assets under management.
"We are aiming for $100 million by the end of the year," Townsend said.
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