Tue, Sep 2, 2014
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. Study shows what resonates with investors: 'Unwavering', 'passionate' beats 'committed', 'dedicated' and more surprises[more]

    Komfie Manalo, Opalesque Asia: A new study by Pershing, a unit of BNY Mellon company, showed that an effective value proposition strengthens audience connections and fosters growth, yet many advisors have had little objective guidance in formulating such statements until now. In the study

  2. Legal – GE Capital and Petters-related hedge fund in legal battle, SEC sanctions Donald Brownstein's hedge fund over conflicts of interest[more]

    GE Capital and Petters-related hedge fund in legal battle From Startribune.com: A billion-dollar legal battle is brewing in Florida over who knew what and when about the decade-long Ponzi scheme operated by former Wayzata businessman Tom Petters. The bankruptcy trustee for two failed Flo

  3. Managed futures' global diversification is important in next phase of economic recovery[more]

    Komfie Manalo, Opalesque Asia: The global diversification provided by managed futures may prove to be extremely valuable as the markets enter the next phase of the economic recovery, said Campbell & Company, a pioneer in absolute return invest

  4. Comment – Why you should avoid the hottest hedge fund hands, Swedroe attacks Hussman over risk management, relative value strategy[more]

    Why you should avoid the hottest hedge fund hands FromCNBC/Yahoo.com: Investors who don't have money with Pershing Square Capital Management are likely salivating at the hedge fund's industry-leading 26 percent return from January through July. But investing with Bill Ackman and other to

  5. Ex-UBS prop trader's hedge fund Manikay Partners eyes UK launch[more]

    From eFinancialnews.com: Manikay Partners, a $1.7 billion US multi-strategy hedge fund set up in 2008 by a proprietary trader from UBS with backing from Goldman Sachs, is planning to open in the UK. New York-based Manikay's move into Europe comes after Financial News revealed on Monday that Aurelius