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Opalesque Exclusive: State Streets to create CHF1.5bln Swiss quant fund Mark Hooker leads a team of 30 analysts at State Street’s Advanced Research Centre in Boston and is developing new mathematical models for quantitative management. He explains to Swiss paper Le Temps that the team members are not likely to go off and launch their own hedge funds as their remunerations are very competitive. So turnover would be low within his team.

On of the fruits of the research works is a new fund called Swiss Equity Alpha Fund, aimed at institutional investors. The objective is to return 1% over Switzerland’s SPI index with a maximum tracking error of 2% and cost of 4 basis points up to CHF 50 million. The structure is not entirely new, as it is already successfully applied in the Small Caps International Fund.

State Street has observed a demand specific to Switzerland for actively managed funds and above all for funds which take little risks. The Small Caps International Equities fund has reached this objective for 10 years, with a constant outperformance of 5%. But the trend is not specific to Switzerland as 80% of the new funds are meant for active management, State Street says.

AXA IOM provides exclusive offshore access to Bramdean Alternatives Fund AXA Isle of Man Limited has announced the launch of the AXA IOM Bramdean Alternatives Fund, giving its clients exclusive access to the newly launched Bramdean Alternatives Limited fund throu......................

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