Sun, Apr 23, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Ex-Tudor manager to launch global macro fund that bets on risk premia

Tuesday, January 22, 2013

Benedicte Gravrand, Opalesque Geneva:

Global macroeconomic uncertainty has driven bond yields to record low and global risk premia to all time highs. AlphaParity’s new fund, the All-Weather Strategy, which is to be launched this week, is designed to capture those very risk premia.

The fund is fundamental with a momentum bias, and it focuses on value, carry and momentum across the four major asset classes, namely equities, fixed income, FX and commodities through highly liquid exposures. It also has a Tail Opportunities Overlay to profit from extreme market dislocations. The goal is to generate a 1.2 net Sharpe ratio. The AuM cannot be disclosed but apparently there are some institutional backers and committed long-term locked-up money.

Steve Gross, the founder and CIO of the new firm, New York-based AlphaParity , is investing a significant portion of his net worth in his new business. He has twelve years of experience in the hedge fund industry; he was previously portfolio manager at Tudor Investments and before that, partner at Penso Capital Markets , and fund manager at Millennium. He founded AlphaParity based on a theory which he explained to Opalesque.

"In 1987, the market crashed and the next day the market changed the way it perceived and thus priced risk," he started. "P......................

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. Opalesque Exclusive: Carden Capital bets on volatility[more]

    Bailey McCann, Opalesque New York for New Managers: Machine driven strategies are having a bit of a moment in the hedge fund world right now. Systematic funds have outperformed other strategies at a time when all ey

  2. Sprott AM to sell Canadian diversified fund business to management-led group[more]

    Komfie Manalo, Opalesque Asia: Toronto-based asset management company Sprott Asset Management LP (SAM) has entered into an agreement to sell its Canadian diversified fund business to a management-led group. Under the deal, the new group will have

  3. Investing - These hedge funds (and Madeleine Albright) are betting on a debt crisis, Hedge funds are upping their bets on the death of the traditional retailer, $20bn hedge fund recaps Corizon[more]

    These hedge funds (and Madeleine Albright) are betting on a debt crisis From Yahoo.com: There could be a big debt crisis brewing in places like China, India, Latin America and Africa -- and a growing number of investors are amassing war chests to cash in on the distress. Albright Capital

  4. Universities looking to defend endowments from Republican tax plan[more]

    From PIOnline.com: Some of the richest U.S. colleges are pushing back against scrutiny by Congress over the tax-exempt status of university endowments. Lobbying disclosure forms show almost two dozen schools such as Princeton University, University of Notre Dame and Cornell University are including

  5. Activist News - GAM touts 'tangible results' of turnaround as activist fight hots up, Bill Ackman not done with Herbalife, says his fight could get legs in May, Activist hedge fund CIAM says Euro Disney's buyout offer not fair for minority investors[more]

    GAM touts 'tangible results' of turnaround as activist fight hots up From FNLondon.com: GAM, the Swiss asset manager at the center of an attempted boardroom putsch by activist hedge fund RBR Capital, said its first-quarter results amounted to "tangible" proof that its management's plan f