Duxbury, Mass.-based Bay Hill Capital Management has launched a volatility multi-strategy fund.
The specialized hedge fund, which launched on July 1, will pursue three volatility sub-strategies: arbitrage, dispersion, and relative value, and will maintain a diversified portfolio, trading mainly in listed equity options.
The $25 million Cayman master-feeder fund was launched after the firm ran the strategy in managed accounts for a year.
The fund charges a management fee of 2% and a performance fee of 20%. The minimum investment requirement is $1 million.