Wed, Aug 24, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
New Managers May 2013

Profiles - Stone Toro and Varden Pacific talk about their funds

Jeffrey Russo

Stone Toro Asset Management LLC, an asset management firm based in Princeton, New Jersey was formed at the end of 2009 by three ex-Merrill Lynch colleagues, Mike Jarzyna, Jeffrey Russo, and Richard Jenkins. Jarzyna and Russo were also directors at BlackRock, and Russo, the PM, managed more than $14bn in AUM as a Director there.

Their fund, the ST Alpha Event Fund, which was launched in January 2011, is an absolute return fund using a global multi-strategy approach to eventdriven arbitrage. It manages around $146.9m and is up 0.92% YTD (to March), after returning +2.5% in 2012 and +1.18% in 2011. It is also featured in Opalesque's EManagers database.

Jeff Russo actually started trading his strategy while at Bankers Trust in the mid-90s, where he served as portfolio manager of global developed and emerging market index funds with assets over $4bn (Bankers Trust at the time was the third largest index manager in the world, managing around $200bn worth of index related assets).

Russo defines "event" as things that are tangibly happening in the market. "So we like to look at where the world is, as opposed to the way we hope it to be or wish it was," he tells Opalesque.

The ST Alpha Event Fund has four distinct strategies, namely: index events, merger arbitrage, structural changes (or special situations, corporate actions) and relative value pairs.

"That's actually something that I think is a really attractive part of the strategy is the breadth of the index world and how the markets have changed over time," Russo explains. "The markets have become very passive with the emergence of ETFs. As active management on the mutual fund side has decreased in size, possibly due to active managers' long-term inab......................

To view our full article please login

This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
New Managers
New Managers
New Managers

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. LatAm hedge funds surge in 1H to +24.4%, emerging markets assets rise[more]

    Komfie Manalo, Opalesque Asia: Hedge funds investing in Latin America posted strong gains through mid-2016, reversing declines in four of the past five years, including the last three years, to lead all areas of hedge fund performance through the first half of 2016, according to the latest HFR Em

  2. Asia - LGT Capital Partners: Alternatives set for continued rise in Asia[more]

    From Asianinvestor.net: More flows are likely into insurance-linked strategies, private equity and trend-following strategies/CTAs, given the benefits of such investments, argues LGT Capital Partners. Despite the numerous quantitative easing programs and bailouts of recent years, the quest for

  3. Investors yank money from hedge funds after poor performance[more]

    From Marketwatch.com: A growing exodus from hedge funds extended to two of the biggest names in the industry Tuesday, Tudor Investment Corp. and Brevan Howard, as disenchanted investors increasingly shun what was once the hottest place to put money. The funds’ problem is clear: They just aren’t perf

  4. Banks look at hedge funds differently - and it should matter to allocators[more]

    From Valuewalk.com: Looking at two bank reports on the same topic can often yield interesting results. There are times when bank research is best viewed from the standpoint of how their analysis does or does not correlate with one another. Regarding hedge fund allocation decisions, one bank appears

  5. Legal - Hedge fund’s fixer kept deals flowing with bribes, U.S. says, Big four banks sued by U.S. hedge funds over BBSW, Lessons for hedge fund managers from the government's failed prosecution of alleged insider trading[more]

    Hedge fund’s fixer kept deals flowing with bribes, U.S. says From Bloomberg.com: With the Miami villa, stopovers at New York’s Plaza Hotel and millions channeled in bribes to win mining deals, Samuel Mebiame was the relationships guy in a corruption scheme that spanned continents, accord