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Alternative Market Briefing

FRM’s new seeding partner embraces artificial intelligence

Wednesday, June 26, 2013

Patric de Gentile Williams
By Beverly Chandler, Opalesque London:

Amplification on the news that Man Group’s fund of funds division FRM is to seed a little known artificial intelligence based company CommEq with an initial $25m finds that discretion is part of the package. Patric de Gentile Williams, Head of Seeding at FRM explains: "We have been fairly discreet about them because they do a relatively rare activity in the investment field."

CommEq has developed an artificial intelligence driven investment process in which they have invested a considerable amount of money. "Their system processes large amounts of information in the general sense so computers can handle far more information than human beings, which means that they can write programs that make sense of unstructured data" de Gentile Williams explains.

"It’s a very large body of sophisticated work representing some 150 man years" he says. The firm started trading according to its findings in 2008 with the firm’s own 'pretty modest’ amount of capital. Two and a half years later they added in a couple of shareholder account investments.

De Gentile Williams says: "The returns have been more than respectable but the nature of the strategy is that it trades with short holding periods of maybe one day so there may be many trades a day giving a large set of data that you can analys......................

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