Thursday, 2 October 2014
Last updated 16 hours ago
Sep 8 2006 | 12:00am ET
Twelve-year hedge fund industry veteran Arthur Stern has struck out on his own to launch a long-short equity fund. The new offering, the Rydal Park Fund, managed by Stern’s Rydal Park Capital Management, began trading on Aug. 1 with $6 million in assets under management.
According to Stern, the fund focuses on investing in cyclical industry groups including industrials, energy, aerospace, basic metals, construction, transport, defense and consumer sectors, among others. Stern utilizes a fundamental stock picking strategy combined with technical trading and holds positions anywhere from 1-week to 1-year.
Stern, a former manager with both SAC Capital and Circle T Partners, will soon be joined by a yet-unnamed partner who will serve as an analyst and head of research for the firm.
The Rydal Park Fund is targeting a 1.5% return per month, net of fees. The minimum investment is $1 million for institutions, although it is less for individuals. Fees are 1.5% for management and 20% for performance.
Carlin Financial is serving as the prime broker for the fund and Rothstein Kass is the auditor. Trident Financial is the administrator.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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