Thursday, 24 July 2014
Last updated 1 hour ago
Apr 30 2008 | 2:00am ET
New York-based Hagin Investment Management is prepping its second product, a market-neutral hedge fund, for launch in the third quarter.
Kathleen DeRose, partner and portfolio manager, said the fund will employ a quantitative approach based on fundamentals. DeRose will manage the fund with recently hired Nathan Lee, formerly a risk manager at New York-based Tremblant Capital.
“Having been through the last year of deleveraging in the marketplace, the opportunities for the market-neutral strategy are a lot better than a year ago,” said DeRose. “And that’s due to the fact that people’s expectations are more reasonable in terms of what a fund like this can achieve, and also because opportunities in the marketplace have become better with some stock prices having come down. We see it as a good time to launch this fund.”
The firm is targeting insitutional investors for its maiden hedge fund offering and has set its minimum investment requirement for institutional investors at $10 million. Its fees are yet to be determined.
Hagin last year made its debut with a 130/30 quantitative strategy with less than $10 million in partner capital. The strategy is currently performing better than average compared to its peers but is currently down this year, according to DeRose.
DeRose, a former portfolio manager with Bessemer Trust and Scudder, founded Hagin with partners Robert Hagin, a Morgan Stanley and Kidder Peabody veteran, and Patrick Morris, a former institutional salesman for Deutsche Bank and several other firms.
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…