Saturday, 26 July 2014
Last updated 15 hours ago
Feb 8 2008 | 1:00am ET
Stamford, Conn.-based WR Capital Management has recently added a multi-strategy hedge fund product to its lineup. The WR Select Fund launched in November 2007 with $200 million in partner capital.
It’s been a mixed-bag in the early going for the fund: It fell 0.33% in November and jumped 1.29% in December, before dropping 3.51% last month.
The new vehicle is a fund of hedge funds investing in approximately 50 managers across six strategies. It is looking to achieve annualized returns of 10% to 12% over a market cycle of three to five years.
The vehicle charges a 1% annual management fee and a 10% incentive fee, offering quarterly liquidity with no lockup.
The firm also manages the WR 130/30 fund, which launched last January with over $60 million in partner capital. That fund offers investors 100% exposure to the Standard & Poor’s 500 and 30% exposure to its WR Multi Strategy Fund, a multi-manager market neutral fund of hedge funds, which is currently invested in over 30 different market neutral strategies; six quantitative market neutral strategies and over 25 fundamental based market neutral sector specific strategies, according to the firm.
The fund is targeting net returns of 15% to 20% with a standard deviation of 8%.
Walter Raquet, the former founder, of Knight Trading Group, founded WR Capital in February 2004. The firm currently manages $388 million in total assets.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…