Opalesque Exclusive: Tunnelbrook hires new director, Prima Fund is up 6.5% (est.) in October, 11.35% YTD
Tunnelbrook’s Prima Fund is up over 6.5% since September, a particularly painful period for most other market participants. The net performance of the fund YTD is +14%.
Prima employs a short term US equity trading strategy that does not use leverage. The fund is uncorrelated to both the S&P and other hedge fund strategies. All of the risk positions are liquidated to cash daily and as such there are no overnight risk positions....
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From the Opalesque team:
Paris-based Algodeal, a quant platform founded by IT professionals Benjamin Filippi (formerly at Lehman) and Jean-Christophe Allemand (formerly at Newedge), will launch its first fund towards the end of 2Q1