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Alternative Market Briefing

Asian volatility fund prefers to wait for the larger moves

Thursday, April 17, 2014

Christopher McGuire
Benedicte Gravrand, Opalesque Geneva for New Managers:

Here is a fund that manages to keep year on year positive returns thanks to its extensive use of Asian convertibles to trade volatility, as well as index options and stocks – "anything that has a volatility component."

The Phalanx Japan AustralAsia Multi-Strategy Fund employs an absolute return, volatility multi-strategy approach within the Japanese, Asian, and Australian markets.

According to Christopher McGuire, CIO at Chicago-based Phalanx Capital Management, LLC, the managers trades Asian volatility primarily through convertible bonds in Japan and the rest of Asia, which is where they get a lot of their volatility exposure. They also trade listed over-the-counter (OTC) options on the various indices throughout the region, as well as single stocks that are both listed and OTC.

"We are looking at literally anything that we can find," he tells Opalesque in a recent interview. "And so anything that has a volatility component on equity or an equity index falls within our spectrum."

Prior to launching Phalanx, McGuire managed the Japanese multi-strategy portfolio for Daiwa Securities America. He also traded Japanese and Asian convertibles at Goldman Sachs and at Marin Capital ......................

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