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Kirsten Bischoff, Opalesque New York: Telesis Capital, the California-based asset management firm has announced the August 1st launch of an offshore version of its Ergos Fund, a fund-of-managed-accounts which invests in quant managers with rapid trading strategies. Opalesque recently spoke with Rishi Narang, Founder of Telesis about the new fund launch and the Telesis focus on quant managers.
Ergos, which currently has $40m in assets launched onshore in January 2008, follows the same strategy and a similar structure as Telesis managed for 3 years previously for a separate client account until January 2008. Likened to a multi-strategy hedge fund, the Ergos Fund invests in equities, futures, currencies (and options on those three instruments) via quant managers who follow short term trading strategies. Narang defines short term as "far less than a week," and in Ergos, approximately two thirds of the positions turn over in less than two days.
Intensive monitoring requirements balanced by full transparency to underliers
Currently the portfolio has 11 underlying managers trading separate accounts with a total of approximately 5,000 positions on behalf of Ergos. The strategy requires a great deal of daily monitoring and as assets increase, the team is targeting a maximum of 20 underlying managers. The Telesis investment focus is on strategic allocations. "We do very little that is tactical, because we don't beli...................... To view our full article Click here
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