Fieldcrest Building Track Record For New Fund-of-Funds Vehicle

Aug 4 2006 | 12:00am ET

Fieldcrest Capital Management has quietly launched a managed futures fund-of-funds that invests with between four to seven underlying managers.

David Slattery, managing partner at Fieldcrest, said that the underlying funds in the new offering are all run by either sector specific or market specific managers because “they tend to outperform diversified managers when you break it down by sector,” he said. “For example, we think the grains focused manager will outperform the grains portion of a diversified manager’s portfolio in the long-term.”

The fund, Fieldcrest Capital Partners, L.P., was established in May at the request some of the firm’s clients who wanted exposure to futures in their portfolios but did not want to pick a single-strategy. The fund’s current investors include a few high-net-worth individuals and one hedge fund, and Slattery said that the firm is waiting to build up a track record of at least two quarters for the fund before touting it to other investors.

“We don’t want to bring it to market until we have tested everything and all of our partners are satisfied,” Slattery said. 

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