Monday, 28 July 2014
Last updated 14 min 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.
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…