Wed, Feb 21, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

California hedge fund firm Evolved Alpha closes down, returns capital to investors

Wednesday, August 22, 2012

amb
Jesse J. Redmond
From Komfie Manalo, Opalesque Asia:

Montecito, California-based hedge fund house Evolved Alpha, LLC announced it would close the firm and has already returned investor�s capital. Evolved Alpha provides transparent, liquid and secure access to specialized alpha-return strategies trading liquid financial instruments.

In an emailed statement, Jesse J. Redmond, Founder and Co-Portfolio Manager at Evolved Alpha, said that the firm was finalizing details before winding up the four strategies: Specialized Strategies, Total Return, Global Equities and Global Futures.

"Closing Evolved Alpha was not a reflection on the strategy or managers. It was a business decision," Redmond stated.

Evolved Alpha was launched two years ago with the support of a core group of investors. The firm�s assets under management doubled since, but its investors base remained concentrated.

According to the Opalesque Emerging Managers database, Evolved Alpha�s Specialized Strategies fund was down 0.44% in February 2012 (-0.24% YTD).

"In 2011, Specialized Strategies outperformed the HFRX Global Hedge Fund Index by 7% with 0.13 correlation. Outperformance drove additions from existing investors, but the lack of compelling absolute returns made it difficult to attract new investors. This c......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Art & Motion launches collectible car alternative investment vehicle[more]

    Komfie Manalo, Opalesque Asia: Luxembourg-based Art & Motion has launched a new investment vehicle dedicated to vintage cars and exceptional high-quality vehicles as this collectible market has grown exponentially the turn of the centu

  2. Opalesque Exclusive: Global Sigma captures February's long-vol trade[more]

    Bailey McCann, Opalesque New York for New Managers: Florida-based Global Sigma rode February's volatility to new highs. The firm's AGSF strategy is up +2.8 percent through February 16 and +4.2 percent YTD a

  3. Institutional Investors - Hedge funds regain their appeal for a $57 billion asset manager, Private credit strategies in stratosphere[more]

    Hedge funds regain their appeal for a $57 billion asset manager From Bloomberg.com: With volatility back on the radar, one of the Nordic region's biggest asset managers is considering relying a bit more on hedge funds to help oversee his portfolio. Mikko Mursula, the chief investment off

  4. Investing - All aboard for hedge funds as trade tide lifts shipping, Hedge funds pile into Time Warner in bet on merger success[more]

    All aboard for hedge funds as trade tide lifts shipping From Reuters.com: Forced to abandon ship after mistiming their investments five years ago, hedge funds are venturing back in a bid to profit from growing global trade flows. Around 90 percent of traded goods by volume are tran

  5. Investing - Hedge funds turn short on tech just as stock rally takes off, After biggest short, speculators slash bearish US bond bets as supply deluge looms[more]

    Hedge funds turn short on tech just as stock rally takes off From Newsmax.com: A key group of investors has just missed out on the biggest tech-stock rally since 2014. Hedge funds and other large speculators turned net short on Nasdaq 100 Index futures for the first time in 21 months, ac