Opalesque Industry Update - GSB Podium Advisers was founded in March 2010 by New York-based Shengbei Guo who ran since early 2005 the Deutsche Bank Noetic Equity Long/Short Fund which at its peak had more than $1 billion assets under management. After a short stint at Galleon Quantitative Management as CIO, Guo decided to launch his own alternative management firm. It is probably one of the larger hedge fund launches in 2010 so far, having been seeded with $175m. |
The manager has started trading in June 2010 on managed accounts and is planning to launch a Cayman based fund in Q1 2011 under the name GSB Podium Statistical Arbitrage Fund. The UCITS version is expected to launch next year in March.
The strategy is a market neutral equity long/short fund. It uses quantitative strategies based on price mean-reversion and momentum to trade across a universe of more than 4000 stocks globally. The strategy is highly liquid and diversified. The geographic focus is around: 40% US, 40% Europe and 20% Asia Pacific. The strategy has returned on average 9.20% per year for an average volatitity of 6.70% per year from January 2005 until November 2010.
London-based Alpha UCITS Ltd. has been appointed the exclusive distributor of the GSB UCITS fund to European clients. Alpha UCITS is a Luxembourg-domiciled UCITS platform currently being launched with GSB Podium as first manager signed on. The fund is subject to authorisation from the Luxembourg regulator CSSF.
Alpha UCITS Ltd. is a London based company founded in 2009 by Stephane Diederich, formerly a Partner at Brevan Howard Asset Management LLP. Alpha UCITS is a specialised structuring and distribution platform for the new UCITS funds launched by blue chip hedge fund managers.
The launch of the GSB Podium UCITS will expand the current UCITS product offering as the equity statistical arbitrage strategy is well-established in the offshore fund space but under-represented in the UCITS space.