London Firm Gives Quant Currency Fund A Second Chance

Mar 28 2008 | 8:07am ET

If at first you don’t succeed: Augustus Asset Managers is giving its quantitative currency hedge fund another shot after pulling the plug in November.

The London firm, which manages about US$1 billion in hedge funds, debuted the fund in July, just in time for it to be battered, along with other quant funds, by the summer’s market volatility. So the firm closed the fund and retooled its models, relaunching it on Feb. 1 for a “road-test” with seed money. The fund is not yet open to outside investors.

Augustus CEO Tim Haywood told Reuters that the new version of the fund is “working much better” than its predecessor.

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