QIM Unveils Two New Hedge Funds

Feb 11 2008 | 1:00am ET

Quantitative Investment Management has launched a pair of new hedge funds. The Charlottesville, Va.-based firm in November unveiled the Quantitative Tactical Fund and the Quantitative Fund.

The Tactical fund is a diversified equities hedge fund, currently trading only U.S. names. It is traded solely using price data, similar to the firm’s flagship Global Program. The fund trades the 1,500 most liquid U.S. names, with plans to expand into Europe and Japan this year. In its first three months of trading, the $126.8 million fund is up an estimated 11%.

The Quantitative fund is a multi-strategy fund of funds that currently invests solely in the 1X versions of other QIM funds, including the Global, Tactical and the Ultra funds. Its annualized volatility is expected to range from 6% to 9%, and allocations made to the fund in 2008 will receive a 10% fee discount for the life of the investment. The fund has returned an estimated 0.38% and is currently managing $1 million

Last year, the $2.8 billion firm also launched the Ultra fund, offered in both 1X and 3X share classes, which uses the same modeling process as the Global Program, but with a much longer-term holding period of one or two years. Launched last August, Ultra trades the same 27 futures markets as the Global Program and returned an estimated 13.31% in 2007. However, it started off the new year down 12.7%.

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