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Alternative Market Briefing

Swedish CTA, RPM launches the RPM Evolving CTA Fund, targeting new and growing CTAs

Tuesday, June 04, 2013

Bailey McCann, Opalesque New York:

RPM Risk & Portfolio Management AB – a CTA/Macro specialist based in Stockholm, Sweden, has launched a new Luxembourg‐domiciled fund (SICAV), that aims to invest with CTAs that are in their most competitive stage of development. According to the firm, they hope to buck the current trend of allocating assets to the largest CTAs by specifically focusing on younger managers, with smaller AUM.

The firm has also authored a research note on the methodology behind this new fund, noting that, "Both internal and external studies indicate that very large managers (in terms of AuM) usually have their best absolute and relative returns behind them. Instead, it is often smaller managers that have left the start‐up phase and entered the growth‐phase, that offer the most competitive returns. These "Evolving CTAs" are typically energetic, creative and innovative and have historically outperformed their larger peers."

"Our intention is to find them before they have grown too big – or too old – to maintain the performance that typically occurs during the first five to seven years of their existence," says RPM CEO Mikael Stenborn. The Fund will only invest with CTAs that are in the Evolving phase – defined by age and AuM – and that are deemed to belong to the very best in this sub‐universe of managers.

These findings echo our recent Opalesque ......................

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