R.G. Niederhoffer Capital Management recently launched a hedge fund that utilizes a short-term, quantitative strategy to trade the 40 largest futures and currency markets, as well as the 800 largest U.S. and European stocks.
The R.J. Niederhoffer TrendHedge fund was launched June 1 and preliminary results show that it returned 12.6% in its first month, and was up 4.3% for July.
“It is a new strategy that is designed to provide protection in difficult times for global macro managers and CTA strategies,” said Sladja Carton, executive managing director at the New York-based firm. “It is primarily designed for funds-of-funds.”
The TrendHedge fund has approximately $50 million in assets under management, and according to Canton, because it invests in liquid asset classes, it has an extremely large capacity.
The minimum investment is $1 million for quarterly liquidity, and $10 million for daily liquidity. Fees are 2.75% for management and 24% for performance.
None of the investors in the new fund have yet signed on under the terms required for daily liquidity, though Canton said some of the firm’s other five funds offer this option, and there are investors who are taking advantage of it.
R.G. Niederhoffer Capital was founded in 1993 by Roy Niederhoffer, brother of well known futures and options trader Victor Niederhoffer. The firm has $420 million in assets under management in six different funds.