Tudor Launches New Futures Fund

Hedge fund giant Tudor Investments hopes to capitalize on the success of its futures funds last year with a new global futures offering.

The Tudor Momentum Fund began trading last December, and is run by Steve Evans, who also manages the firm’s $870 million Tensor Fund, which returned 36% last year. The new fund has garnered about $51 million from investors since its debut, The New York Times reports.

Tensor, like its predecessor, uses a quantitative model to profit from market volatility. It returned 1% in January.