Tue, Mar 19, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

$1.2bn Sagewood spins out of Stifel

Wednesday, January 11, 2017

Bailey McCann, Opalesque New York:

Sagewood Asset Management, which has been operating within Stifel Financial Corp. since 2015, is officially launching as an independent $1.2 billion asset manager focused on volatility strategies. The New York firm's spin-out was announced in an investor letter obtained by Opalesque.

Sagewood will retain and manage its flagship Volatility Yield Strategy and will manage money for new institutional and high net worth clients in addition to Stifel clients. The firm's volatility strategy captures volatility risk premium - the gap between implied and realized volatility in the S&P 500 index options market. The strategy can be run as an overlay, typically generating a 2-4 percent additional income return, or as standalone. The historical annualized return of the standalone strategy is approximately 7.5 percent.

As an independent, employee-owned entity, Sagewood will be managed by the same team- CEO Bill Belleville, CIO Defina Maluki and senior portfolio manager Hsiaolin Chang.

Belleville and Maluki first began working together at Credit Suisse. Maluki launched Credit Suisse's Volatility Income Strategy which was seeded by Belleville's team within the private bank. Maluki was the head portfolio manager for the strategy at Credit Suisse from 2007-2012. In 2012, the team launched its Volatility Yield Strategy at Barclays, which continues to be Sagewood's flagship approach.

"Going forward our goals are to contin......................

To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1