Horizon Readies To Launch Hedge Fund

Oct 31 2006 | 11:09am ET

Horizon Asset Management is set to launch its latest hedge fund tomorrow with $25 million in assets under management.

The new offering, the Protostar Master Fund, is being managed by CEO Murray Stahl, who will invest with a long-term time horizon in securities that he believes the market has undervalued, employing puts and calls in an effort to keep volatility low.

The new fund has an onshore and an offshore version. Fees are 1% for management and 20% for performance. The minimum investment is $500,000.

Morgan Stanley is serving as the prime broker, Goldstein Golub Kessler as the auditor, and Mayer Browne Rowe & Maw as legal council.

In addition to the new offering, Stahl also manages the Polestar Fund, a concentrated long/short fund which was launched in January 2003, as well as several other strategies.

New York-based Horizon Asset Management was founded in 1994 and has approximately $7 billion in assets under management.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...