Opalesque Industry Update - Harmonic Capital Partners, a successful hedge fund manager trading long/short
macro strategies, recorded its highest annual return in 2010. |
The Harmonic Capital Value Program* was up 24% in 2010, after recording 2% in 2009 and 17% in 2008. Harmonic invests in liquid futures and FX markets globally using quantitative investment strategies. These strategies take fundamental data and prices and use them to determine relative values between markets. The result is a non-directional portfolio, for instance, short Canadian bond futures versus long US Treasury futures.
Harmonic Capital also offers the Harmonic Macro Program* and the Harmonic Currency Program* both of which were launched in 2003 and performed strongly in 2010; 20% and 8% respectively (net estimated).
David Pendlebury , CEO of Harmonic Capital Partners, commented: “We are pleased to report strong returns in 2010, especially the Harmonic Value Program. Elsewhere the Harmonic Currency Program delivered its eighth consecutive positive year — certainly something to celebrate in the volatile world of currency investing. Aided by performance, assets grew strongly over the year, rising from $425m to $605m. As well as the satisfaction of delivering excellent long-term returns to our investors, we are in a sound financial position and will be investing in the business in the coming year. For instance, we are recruiting further in Sales and Marketing following a senior hire in 2010. We also look to our research and technology teams as areas for additional expansion.”
Note to editors
Harmonic Capital Partners is a quantitative long/short macro manager. By construction, Harmonic’s trading style has a low correlation to both discretionary macro managers and systematic trend followers.
Like other successful macro managers we seek to understand what drives markets and how best to exploit these relationships. We then look to build long/short portfolios from these drivers through systematic models. We differ from so called “black box managers” because our investments are clearly explainable and understandable. Furthermore our approach is not dependent on statistical patterns, high frequency trading, special relationships or transient market inefficiencies. Simply put, we are a disciplined macro manager.
Established in 2002, Harmonic employs 16 people and manages over $605 million for
a primarily institutional client base...Corporate website: Source