Saturday, 5 September 2015
Last updated 11 hours ago
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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…